The relaunch of a classic Soviet-era car, the Moskvich, by a state-owned company in November was celebrated by Moscow¡¯s mayor as showing the resilience of Russia¡¯s auto industry to sanctions.
¡°This is a historic event,¡± Sergei Sobyanin said as the Moskvich was unveiled at a factory the Moscow government took from French carmaker Renault last year for just one ruble ($0.01). ¡°Many people thought it was the end of the Russian car industry.¡±
But the rebirth of the Moskvich is also a sign of China¡¯s growing sway over an important sector of Russia¡¯s economy.
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