"...Readers may recall I worked with the Japanese when they were in the same position the Chinese are in now, that of exporting massive amounts of capital, and at the juncture when private businessmen were eagerly hoovering up foreign investments. In some ways, the Japanese then were better positioned than the Chinese are now due to the strength of the yen in the later 1980s (the result of the Plaza Accord of 1985 which sought to and succeeded in lowering the dollar relative to the yen). Before then, I did some advisory work for a cross-border M&A effort of a McKinsey client, and have been recruited by boutiques that were focused on cross-border investing."
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