DIAMONDS ARE FOREVER Invented by o

DIAMONDS ARE FOREVER

Invented by one of the richest companies in the world, Diamonds
are Forever is a slogan which does not bear close examination.
Common and untradeable
Diamonds are neither valuable nor rare. Though fabulously expensive, they are actually one of the most common minerals on earth. In the West cut diamonds outnumber cars. They are almost untradeable as a commodity. Their resale value is significantly lower than their original cost, and nowadays they can easily be substituted in all their industrial uses. In fact, without the tradition and romance, which have always given diamonds their sentimental value, they would be almost worthless.
Artificially high prices
The high price of diamonds is a triumph of the commercial clout and marketing genius of De Beers, the South African conglomerate that has an 80% stake in world diamond supply. By strictly regulating the mining and distribution of diamonds, De Beers has managed to keep prices artificially high. And by turning the diamond into a universal symbol of romance it has prevented second-hand diamonds from flooding the market and forcing prices down. Even in times of hardship people are reluctant to part with their diamonds. De Beers knows that if they ever did part with them, the market would be saturated overnight.
Supply outstrips demand
World supply of diamonds has consistently outstripped demand, so logically diamonds should be cheap. If not for De Beers, the world's greatest cartel, they would be. But such has been the power of De Beers that even a glut of diamonds, massive stockpiling, chronic cashflow problems and political uncertainty have been unable to loosen its stranglehold on the $60 billion world diamond market.
Cheap labour
Most of the diamonds traded internationally are mined by the African poor or bought on the cheap from the Russians. And three quarters of the world's gems are cut in poverty-stricken Surat in India, often by young children earning as little as four American cents per stone. Appalled by De Beers' business ethics, America outlawed the company, effectively preventing it from opening its own outlets in the
United States. Ironically, America remains by far De Beers' single biggest market and the company operates through American dealers unhindered.

Engagement Rings
It was the marketing magic of De Beers which persuaded Americans at the turn of the century to adopt the European custom of giving a diamond engagement ring as a token of marriage The same magic worked again in the 1950s when the Japanese in their desire to be Western became the world's second largest market for cut diamonds And when the Oppenheimer family who own De Beers found themselves with a mountain of unsold small diamonds on their hands, they dreamt up the idea of the eternity ring as a means of getting rid of them
Successful advertising
A perfect example of a near total monopoly, De Beers has always found ways to boost demand and cut surplus production When General Electric discovered a way to produce high-grade synthetic diamonds, De Beers still managed somehow to prevent GE undercutting their prices In fact the Oppenheimers have spent more than $160 million a year repeating their message that "diamonds are forever", probably the most successful advertising slogan of all time And even when profits are down and their share price takes a tumble, DE Beers makes sure that the legend
of the diamond lives on.
Massive stockpiling
Yet throughout its long and chequered history, what De Beers has feared most is the prospect of plunging prices if other diamond producers were ever to dump their surplus gems onto the world market After all, it was by threatening to do just that that the Oppenheimers were able to seize control of De Beers in the first place. So far the company has managed to soak up excess supply by buying up most of the diamonds in the world But this has led to a massive accumulation of stocks in South Africa with perhaps a further ten billion dollars worth in Russia alone How long De Beers can contain such a huge surplus is now open to question and perhaps even they will eventually fall victim to the relentless laws of supply and demand.

Results (Vietnamese) 1:

KIM CƯƠNG LÀ MÃI MÃI Phát minh bởi một trong những công ty giàu nhất thế giới, kim cương là mãi mãi là một khẩu hiệu mà không chịu kiểm tra kỹ. Phổ biến và untradeable Kim cương là không có giá trị, cũng không hiếm. Mặc dù fabulously đắt tiền, họ thực sự là một trong những khoáng vật phổ biến nhất trên trái đất. Ở phía tây cắt kim cương đông hơn xe ô tô. Họ là gần như untradeable như là một thứ hàng hóa. Giá trị bán lại của họ là thấp hơn đáng kể so với chi phí ban đầu của họ, và ngày nay họ có thể dễ dàng được thay thế trong sử dụng công nghiệp của họ. Trong thực tế, không có truyền thống và sự lãng mạn, có luôn luôn được kim cương giá trị tình cảm của họ, họ sẽ hầu như vô giá trị. Giá cao giả tạo Giá cao của kim cương là một chiến thắng của ảnh hưởng thương mại và tiếp thị thiên tài của De Beers, tập đoàn Nam Phi có một 80% cổ phần của nguồn cung cấp kim cương trên thế giới. Bởi nghiêm chỉnh quy định khai thác và phân phối của kim cương, De Beers đã quản lý để giữ giá cao giả tạo. Và bằng cách chuyển các viên kim cương thành một biểu tượng phổ quát của lãng mạn, nó đã ngăn cản các kim cương cũ từ lũ lụt trên thị trường và buộc giá xuống. Thậm chí trong thời gian khó khăn người có miễn cưỡng tham gia với các viên kim cương. De Beers biết rằng nếu họ bao giờ đã làm một phần với họ, thị trường sẽ được bão hòa qua đêm. Cung vượt cầu World supply of diamonds has consistently outstripped demand, so logically diamonds should be cheap. If not for De Beers, the world's greatest cartel, they would be. But such has been the power of De Beers that even a glut of diamonds, massive stockpiling, chronic cashflow problems and political uncertainty have been unable to loosen its stranglehold on the $60 billion world diamond market. Cheap labour Most of the diamonds traded internationally are mined by the African poor or bought on the cheap from the Russians. And three quarters of the world's gems are cut in poverty-stricken Surat in India, often by young children earning as little as four American cents per stone. Appalled by De Beers' business ethics, America outlawed the company, effectively preventing it from opening its own outlets in the United States. Ironically, America remains by far De Beers' single biggest market and the company operates through American dealers unhindered. Engagement Rings It was the marketing magic of De Beers which persuaded Americans at the turn of the century to adopt the European custom of giving a diamond engagement ring as a token of marriage The same magic worked again in the 1950s when the Japanese in their desire to be Western became the world's second largest market for cut diamonds And when the Oppenheimer family who own De Beers found themselves with a mountain of unsold small diamonds on their hands, they dreamt up the idea of the eternity ring as a means of getting rid of them Successful advertising A perfect example of a near total monopoly, De Beers has always found ways to boost demand and cut surplus production When General Electric discovered a way to produce high-grade synthetic diamonds, De Beers still managed somehow to prevent GE undercutting their prices In fact the Oppenheimers have spent more than $160 million a year repeating their message that "diamonds are forever", probably the most successful advertising slogan of all time And even when profits are down and their share price takes a tumble, DE Beers makes sure that the legend of the diamond lives on. Massive stockpiling Yet throughout its long and chequered history, what De Beers has feared most is the prospect of plunging prices if other diamond producers were ever to dump their surplus gems onto the world market After all, it was by threatening to do just that that the Oppenheimers were able to seize control of De Beers in the first place. So far the company has managed to soak up excess supply by buying up most of the diamonds in the world But this has led to a massive accumulation of stocks in South Africa with perhaps a further ten billion dollars worth in Russia alone How long De Beers can contain such a huge surplus is now open to question and perhaps even they will eventually fall victim to the relentless laws of supply and demand.