English on the Media2022. 6. 22. 22:53

 

 

 

Posted by LILY
English on the Media2021. 1. 11. 01:36

▶ Abram - A diamond should be cut not too flat, not too deep. It should be either colorless or a bright color, but not in between. It should be clear, free of the inclusions that scientists love. And it should be big. That system for grading diamonds was invented in the 1940s by a gem research institute. They started selling certificates. 
▷ I think that everybody feels very assured when they get some kind of certificate and some kind of understanding of where their diamond lands, in terms of the grading system. 
▶ Abram - De Beers promoted the 4C system, helping it take off. Conveniently, a lot of their diamonds were big and clear. And demand for them kept going up. But in countries where diamonds are mined, that demand sometimes meant funding for conflict. Between 1992 and 1998, a rebel group in Angola raised more than $3.7 bilion from diamond sales, fueling a war that killed at least half a million Angolans. Diamond sales also helped fund conflicts in Sierra Leone, the Ivory Coast, and Liberia. Eventually, this drew international attention and backlash
▷ Blood diamonds
▶ Abram - But in the U.S., the demand for diamonds remained pretty much the same. And while there is now a certification system to try to stop the sale of diamonds smuggled from conflict zones, no one knows for sure now well it's worked, because the diamond supply chain is incredibly opaque
▷ I think it's difficult if you don't have any paperwork with the diamond to really fully understand where it came from. But around the same time that blood diamonds were making headlines, De Beers and its playbook faced its biggest threat yet--real competition. 
▷ I think most people think that all diamonds come from Africa, but it's actually important to understand Russia's the largest supplier of diamonds in the world. 
=============================================
grading - 등급매기기
Blood diamonds - 총기 및 군수품 구입을 위해 전쟁지역에서 채굴, 판매되는 다이아몬드

 

 

▶ Abram - For decades, De Beers had an exclusive deal to buy most of the Soviet Union's diamonds. But when the Soviet Union collapsed, so did the deal. Then, in 2005, De Beers settled an antitrust lawsuit that had accused them of a conspiracy to fix the price of diamonds. De Beers agreed to pay $295 million back to American consumers. And in a separate case with the U.S. government, De Beers plead guilty to price-fixing. De Beers' market share began to go down. But something strange happened. the price of diamonds diddn't. De Beers is no longer the biggest player, but diamond companies still look to their playbook. 
▷ Alrosa is the largest producer of diamonds worldwide. We have about a 27% market share, which means that one out of every four diamonds is an Alrosa diamond.
▷ The top three producers--De Beers, Russia's Alrosa, and Rio Tinto--none of them actually manage a strategic stockpile the way that De Beers did during the monopoly era, but they will withhold goods from the market if they feel there isn't substantial demand. 
▶ How do you think about stockpiling diamnonds, and how does the industry make sure that there aren't too many diamonds on the market in such a way that would cause the price to go down? 
▷ Yeah. There's a party line that i'm supposed to say about that, which---. Sometimes, of course, there's more supply than demand, and certainly when that happens, we don't look to reduce pricing because we don't want to jeopardize the inherent value of the diamond or what ultimately the consumer is going to be purchasing. 
▷ At this point, I can't really imagine who is incentivized to have the price fall. 
▶ And that even includes consumers. 
==========================================
antitrust : (법)독점금지의
price-fixing : (회사들 간의) 가격담합
market share : 시장점유율
party line : 기본방침

 

Posted by LILY