Japan’s Exports of Sanctions-exempt Used Vehicles to Russia Surge (Kyodo News)

NOTE: Converting cash to physical assets is a common practice in emerging and frontier markets:

  • An official at the Japan Used Motor Vehicle Exporters Association suggested another reason for Russians snapping up secondhand Japanese vehicles. “Russians have a history of not trusting their government or currency, and have a tendency to convert cash into apartments, cars or other commodities in times of crisis,” the official said. READ MORE

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