If you are looking for some solid B-action film, you should look elsewhere. I like Dolph Lundgren and I have seen most of his films, and though "Diamond Dogs" is far better than abysmal "Jill Rips" and terrible "Agent Red," it still needs professional touch of action/stunt choreographers and production designers. In short it needs better action and more money.
Dolph Lundgren is Xander Ronson, a mercenary hired by an expedition team trying to retrieve a lost Buddhist artifact in Inner Mongolia. As a security guard and guide Ronson travels with the team led by one Chambers (William Shriver) and his step daughter Anika (Yu Nan). But another group of treasure seekers, armed Russians, are also after the artifact, which local people say is protected by the curse.
The "Indiana Jones"-like story of "Diamond Dogs" is generic, but serviceable. The film opens promisingly with Ronson's prize fighting sequence and the location of Inner Mongolia is authentic, but action stunts are not compelling enough and the religious relic itself (and the "curse" surrounding it) is soon forgotten. Lundgren is convincing as the hero, or anti-hero, but some of the other actors look terribly bored, or just overact.
According to IMDb, Dolph Lundgren did uncredited work as director, replacing Shimon Dotan. Those who have seen "The Mechanik" know that Dolph Lundgren can really direct action scenes within the limited budget, but even he couldn't save the production that is obviously underfinanced.
Interestingly "Diamond Dogs" is a Canadian-Chinese co-production that was actually shot in China. The location of Inner Mongolia provides an exotic look - the railroad, the rocky mountains and the old temple, etc. are all nice to look at, and some scenes are beautifully shot - but what the action film doesn't have is action itself.