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Wealthy Chinese heading abroad to buy diamonds without scrutiny

ROUGH TIMES: De Beers, which mines in southern Africa and Canada, failed to sell 30 per cent of the rough diamonds at its March sale, according to industry publication Rapaport.

New York

WEALTHY Chinese who made their country into the world's second-biggest market for diamonds are now increasingly travelling abroad to buy the stones, at a time when ostentatious purchases are frowned upon at home.

That's the view of Tiffany & Co, one of the biggest...

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