Sell-offs of Chinese equities and bonds and widespread defaults in the country’s property market are driving wealthy investors to re-examine one of Asia’s most traditional forms of investment — jadeite.
A coup in Myanmar, US sanctions and the Covid-19 pandemic have all but frozen supplies of the uncut stone, sending prices of finished jewellery bearing jadeite soaring.
Myanmar produces 70-90 per cent of the world’s supply of high-quality jadeite, which is the rarer and more valuable of two chemically distinct stones collectively known as jade. The stone is overwhelmingly sold to buyers in China and south-east Asia.
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