Furthermore, in 1986, the U.S. had one of the lowest effective marginal corporate tax rates for equity-financed investments in machinery and industrial structures in the U.S., and now we have one of the highest.

FORBES: # 9 The 1986 reform hit tax shelters and arbitrage hard

For Japan this means an unwinding of the structures and alignments of the current U.S.-Japan security relationship.

FORBES: The U.S.-Japan Alliance is on the Wrong Side of History

Throughout the 1990s and early 2000s, private-sector Chinese entrepreneurs could set up offshore ownership structures in Hong Kong, the U.S. or the Cayman Islands, that through a new Chinese subsidiary would acquire operating business assets in China.

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