(ft.com) - The US trade war with Beijing has wiped out sales targets of the world’s largest diamond producer Alrosa in China and hit purchases by the country’s tourists in the west. “When there’s any political instability or tensions, luxury goods sales immediately react, including jewellery with diamonds,” chief executive Sergei Ivanov of the Russian diamond miner said in an interview with the Financial Times. “We thought [our sales growth] in China would go up by 2 or 3 per cent, but now the outlook is likely more pessimistic — growth rates will either be neutral or slightly negative.”
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