CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
In a move meant to curtail fake diamond exports and the round tripping of funds and diamonds indulged in by some nefarious diamond merchants, India’s central bank, the Reserve Bank of India, has reduced the term of letters of credit for the import of diamonds into the country.
An immediate consequence of reducing the term, to 90 days instead of one year, will ensure that diamond importers cannot earn interest arbitrage on their packages.
