De Beers built an empire by convincing the world that “a diamond is forever”. On this week’s “Money Talks”, how cheap lab-grown stones threaten to end its reign https://t.co/FUGosndUK4 ...

Our podcast on markets, the economy and business. This week, how lab-grown stones have upended the market and what that means for De Beers https://t.co/qWJle2LING ...

Botswana's Economic Challenges - Botswana's diamond-fueled economic boom is faltering due to the rise of lab-grown gems [1] - The country's reliance on diamonds, accounting for approximately 80% of exports and about 33% of government revenues, makes it particularly vulnerable to market changes [3][5] - The diamond sector constitutes about a quarter (25%) of Botswana's total economy [4] Impact of Lab-Grown Diamonds - Lab-grown gems are significantly impacting diamond prices, leading to drastic changes in Botswana [3] - Botswana's debt levels have nearly doubled in just three years as the country borrows to balance its budget [4] Industry Response and Mitigation Efforts - Botswana, along with other diamond-producing countries like Angola, has pledged to spend 1% of their revenues on promoting natural diamonds [6] - These efforts aim to convince consumers of the value of natural diamonds over lab-grown alternatives, but their success is uncertain and may take time [6]