China, Russia creating robust agricultural industry: Legendary investor Jim Rogers

Legendary investor Jim Rogers said he’s hedging away from the U.S. and Europe and looking into the Japanese, Russian and Chinese markets.

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“These markets are all depressed compared to history,” he told the FOX Business Network’s Maria Bartiromo.

The Russian economy is getting better and sanctions have created a “whole new industry,” he said.

“They’ve forced together with the Asians. Agriculture is booming because nobody can sell to them and they can’t buy from us. So their agriculture is booming. Chinese are everywhere,” he said.

Rogers, who co-founded the Quantum Fund with George Soros in 1973, said he’s invested in individual shares and Russian government bonds.

“Their yields are very, very high. You can get 10% in Rubles and in my view the Ruble has stabilized so it’s a lot better than 2% in America,” he said.

In his opinion, the Japanese currency is more valuable than Europe’s.

“There’s a lot of money there, [in Japan], gigantic amounts of money,” he said. “It’s not good for Japan long term but the stocks are cheap and the government is printing and spending huge amounts of money and it’s going into the stock market.”