The global jewelry industry has grown to $5.5 trillion, with $3 trillion of that coming from China.
But the industry’s value has also grown.
And that’s not a good thing.
It has created a bubble that is driving up prices and pushing up wages for the people who make the jewelry.
But it’s also a problem for the world.
The $5 trillion global jewelry market The $5-trillion global jewelry marketplace is made up of several hundred million people who spend billions of dollars each year on jewelry.
The vast majority of those people, or around one-third, are from China, which accounts for more than two-thirds of the global jewelry supply chain.
They make jewelry for wealthy people around the world, but the global economy is largely run by middle-class people.
China’s jewelry market is worth about $6.7 trillion.
And it’s growing.
In 2017, Chinese jewelry jewelry producers exported $5 billion worth of goods.
That’s more than the value of all of the goods imported into the U.S. in that same year, according to data from the China Association of International Trade and the International Federation of Harmonized Industries.
For most of the last 50 years, China has been a global powerhouse in jewelry, making up more than 70 percent of the world market.
But this year, it has been hit hard by the economic downturn.
In China, the economy has shrunk, the share of manufacturing jobs has declined, and the demand for imports has decreased.
And those trends are likely to continue into the future.
China imports 80 percent of its jewelry and 80 percent is made overseas.
That means the global supply of Chinese jewelry will be even smaller in 2026 than it is now.
“We have a very small and declining Chinese market,” said Tom Tully, senior fellow at the Peterson Institute for International Economics and the author of a forthcoming report on the global market.
“It’s very difficult for a country like China to compete.”
Tully said the trend could lead to a “global price war” in the future, because the world’s wealthy people are spending more and more money on jewelry as a result of the crisis.
As the demand from Chinese buyers has decreased, Chinese producers have had to slash their output to meet growing demand from wealthier buyers in the U, Europe, and other parts of the globe.
That has pushed up prices in the industry.
According to data compiled by the Peterson Group, the world spent $13.3 billion on Chinese jewelry in 2017, a 1.4 percent increase from the previous year.
The global market is expected to increase by another 2.5 percent this year.
So, if China’s jewelry industry is shrinking, what’s happening to other parts the world?
Tully said that’s likely to be a problem.
He said the jewelry industry could be hit especially hard by an eventual devaluation of the Chinese yuan, which could cause the value in some of its currencies to drop, pushing up prices.
He said the Chinese government could respond by restricting exports, which would hurt the jewelry sector in general.
Even with the slowdown, the global demand for jewelry remains strong, Tully says.
He predicts that the global industry will see an increase of about 20 percent over the next decade.
That could mean the global price war will continue for a long time to come.
If China’s economy falters, will the global luxury and fine jewelry industry continue to grow?
For now, the luxury and expensive jewelry market remains largely untouched by the financial crisis, which may also help the jewelry supply chains that are the main drivers of prices.
But as China’s market has shrunk and imports have dropped, so too have luxury and high-end jewelry producers.
Tully pointed to a study published last year by the Rhodium Group, a research firm that specializes in global jewelry, that found that luxury and luxury jewelry production is expected increase by about 50 percent over this year compared to the next year.
That would mean that the luxury jewelry market will be worth an average of about $1.2 trillion over the coming decade, the Rhodias report said.
Tally said that, in a world where prices for high-quality jewelry are rising faster than in the past, it could take a while for the global value of high-value jewelry to match the price of luxury.