"We can't compete with Australia and Chile on volume, " he acknowledges.

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People in fast-growing economies like Ireland, Vietnam and Guyana aren't buying as much jewelry as those in Chile, Brazil or Mexico.

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Om Malik Bargain in Chile This one you won't likely find on the Web: The unwinding of leverage in global markets has caused many stocks to plummet in Latin America, not all of them for sound reasons.

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