DeBeers Case

Taking Korea for example against China, I would not actually point out that the diamond trade doesn’t exist, but in general terms, we could say the Chinese have a large purchasing power of diamond than Korea, but specifically speaking on the same matter, Korea has a bigger percentage of diamond buyers within the size of its population, if 20% of South Korea citizens are active buyers of diamond and that is a fraction of the 48million population density. Then 20% of that would give us 9.6 million diamond buyers. For the case of China, if only 5% of the Chinese are active buyers of diamond and its total population is 1.3 billion, the active 5% will be equivalent of 65million diamond buyers. In this case we will say China that 1 in every 20 Chinese will buy diamond at a specified period of time, while of the case of Korea we will learn that 4 in every 20 Koreans will buy diamond at a specified time.(Andrew, 2006). The market for diamond is bigger but the demand per person is low. In Korea I would say the diamond market is smaller but the demand per person is higher. In this we could argue that DeBeers targeted the size of market and not the demand which is a positive thing, but also the demand per unit of people should be observed.

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