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flag Botswana’s diamond-driven economy plunges amid global lab-grown surge, job losses, and falling output.

flag Botswana’s economy is in crisis as its diamond industry, once the foundation of its prosperity, collapses due to a surge in cheaper lab-grown diamonds from China and India. flag Diamond output dropped 43% in Q2 2025—the steepest decline in the nation’s history—leading Debswana to cut revenues in half and halt operations at some mines. flag Workers have lost jobs, and many, like Keorapetse Koko, now face debt and lost healthcare. flag The World Bank forecasts a 3% economic contraction, the second in a row, worsened by a 15% U.S. tariff on Botswana’s diamonds. flag While synthetic diamonds now make up nearly 20% of global sales and dominate the U.S. engagement ring market, their environmental impact remains debated. flag The country faces urgent pressure to diversify its economy as natural diamond demand continues to fall.

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