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The idea of the cartel is that nobody would want to sell their diamonds cheaper when they can sell them for more through deBeers. They don't want to get into a
by Hondor 10y ago
The idea of the cartel is that nobody would want to sell their diamonds cheaper when they can sell them for more through deBeers. They don't want to get into a price war with each other since then every player will lose.
- imh 10y agoDoesn't everyone in every industry lose if they go into a price war? But they do it anyways. I'm not trying to be argumentative, I just sincerely don't understand what makes diamonds different from other products.
- fosk 10y agoSmall number of players, and high barriers to entry the diamond market that prevents that number from growing and disrupt the cartel.