Question

In: Economics

How does Blood Diamond impact on political, economic and ethical stability?

How does Blood Diamond impact on political, economic and ethical stability?

Solutions

Expert Solution

Political impact on blood diamonds:-

  • 1989- 2003in Liberia.
  • Engaged in civil war .
  • Illegal trade of diamonds Increased.
  • The government allowed to illegal trades of "Blood diamonds"
  • Inspite of harm and danger of children fighting and searching for diamonds.
  • As it helped the structure of the government and Economy in becoming strong and stable.
  • In march 2001,UN security council put Embargo acts on the weapons and diamonds that were being trades and sold to fuel.
  • UN stated that if liberia continued with trade of the diamonds.
  • Other countries will take action
  • And do necessary to stop the Exports.
  • The government's argument was that they needed the weapons paid by the diamonds to protect themselves against rebel groups.
  • Crossing the border and attacking their region.
  • Liberia at present developing a diamond monitory system.
  • This process was set up to prevent the trade of diamonds.
  • The history of exporting Blood diamonds have a created a
  • Stable government for Liberia.

Economic impact:-

  • In Africa wealth and power went hand in hand.
  • There were many wars going on in Africa.
  • Countries needed to pay for them.
  • So diamonds came into play.
  • In Angola ,blood diamonds were mined.
  • The revolutionary united front smuggled the diamonds to other countries.
  • Sold in world markets.
  • Diamonds were paid for weapons, Food and other necessities for the rebel groups.
  • These groups earned millions of dollars from these blood diamonds.
  • Once they started trading.
  • Liberia became the transit place for smuggled diamonds.

Ethical impact:-

  • The movie highlighted that Ethical issue of corrected officers who use their power for money.
  • The title of the movie shows that conflicts diamond which are rough are used by Rebel and by terrorists.
  • These conflict diamonds are used to finance the act of terrorism and war.
  • In this issue many children were kidnapped and were made into soldiers and labours this act was inhuman.
  • To mine the diamonds,rebels used slaves.
  • They raided villagers and captured men, women and children to work as slaves.

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