Diamond stores in New York City are found in what they call as the "Diamond District". Diamond District is located at the 47th street of New York City. The Diamond district began at the Centuries-Old Hasidic Community from Eastern Europe particularly Antwerp and Belgium. During the 15th Century, Jews have an exclusive and distinct relationship with the diamond industry. During those times, Jewish people were given limited work choices. One of those choices available is to work in a diamond industry. It is because the church disapproves handling of goods and money. In 1942 and 1947, Jews were banished from Spain and Portugal and so most of them fled to Belgium. Persecution of Jewish people in Eastern Europe didn't stop and that led them to Antwerp. However, a catastrophe struck which greatly affected the diamond market in Antwerp. After what happened, they knew their life would never be the same again. At …show more content…
So literally speaking, it was a complete transformation, a rags-to-riches tale. Because of the emerged of Diamond stores in New York City, the place is now known to be America's Diamond Capital.
An anthropologist author Renee Shield's book, "Diamond Stories: Enduring Change of 47th Street," she writes, "The diamond, a pebbly object transformed into a twinkling, astronomically priced jewel, has allowed Jews to transform themselves from rejected refugees of one country to respected businessmen of another."
Today, the second and the third generation of those immigrants are continuing their family's legacy on the diamond stores of 47th street in New York City. If you were to visit the street and you are a keen observer, you may catch a sight of a handshake that is believed to be a "diamond exchange". The handshake signifies trust that is distinct to their religious community. In the diamond industry, credit-based exchanged denotes trust and today it is now called as "trust-based