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The fortunes of Japan's large trading houses have tended to fluctuate with those of the country as a whole, from its opening-up in the 19th century, through the disaster of war in the 1940s, to the highs and lows of the bubble era. But lately the traders have decoupled. While much of Japan is stagnant, the likes of Mitsubishi and Mitsui have become prime movers in the world's natural-resources boom. This is surprising. In an age of land-grabbing state capitalism, the sogo shosha, as they are collectively known, could easily have been trampled underfoot by Chinese energy giants or sovereign-wealth funds. Instead, they have recently pulled off a string of huge deals involving North American shale gas, vast (and disputed) Chilean copper mines, and Australian liquefied natural gas (LNG).Unlike those of the country, the fortunes of large Japanese trading houses have tended to fluctuate since the 19th century, which is surprising considering today's land grabbing state capitalism.With the fortunes of the country, those of large Japanese trading houses have fluctuated but, of late, companies like Mitsubishi and Mitsui have surprisingly become prime movers in the natural-resources boom and have secured sizeable deals.The fortunes of large Japanese trading houses and those of the country have been fluctuating since the 19th century but, of late, companies like Mitsubishi and Mitsui have become important players in the natural-resources boom and have bagged prestigious deals.While the fortunes of Japan's trading houses, like those of the country, have been fluctuating since the 19th century, lately the trading houses have become prime players and have secured prestigious deals boosting the nation’s economy.

Question

The fortunes of Japan's large trading houses have tended to fluctuate with those of the country as a whole, from its opening-up in the 19th century, through the disaster of war in the 1940s, to the highs and lows of the bubble era. But lately the traders have decoupled. While much of Japan is stagnant, the likes of Mitsubishi and Mitsui have become prime movers in the world's natural-resources boom. This is surprising. In an age of land-grabbing state capitalism, the sogo shosha, as they are collectively known, could easily have been trampled underfoot by Chinese energy giants or sovereign-wealth funds. Instead, they have recently pulled off a string of huge deals involving North American shale gas, vast (and disputed) Chilean copper mines, and Australian liquefied natural gas (LNG).Unlike those of the country, the fortunes of large Japanese trading houses have tended to fluctuate since the 19th century, which is surprising considering today's land grabbing state capitalism.With the fortunes of the country, those of large Japanese trading houses have fluctuated but, of late, companies like Mitsubishi and Mitsui have surprisingly become prime movers in the natural-resources boom and have secured sizeable deals.The fortunes of large Japanese trading houses and those of the country have been fluctuating since the 19th century but, of late, companies like Mitsubishi and Mitsui have become important players in the natural-resources boom and have bagged prestigious deals.While the fortunes of Japan's trading houses, like those of the country, have been fluctuating since the 19th century, lately the trading houses have become prime players and have secured prestigious deals boosting the nation’s economy.

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Solution

The fortunes of Japan's large trading houses have historically mirrored the country's overall economic health, from its opening in the 19th century, through the devastation of war in the 1940s, to the peaks and valleys of the bubble era. However, recently, these trading houses have diverged from this trend. Despite the stagnation of much of Japan, companies such as Mitsubishi and Mitsui have emerged as key players in the global natural resources boom. This is unexpected, as in the current era of aggressive state capitalism, these sogo shosha could easily have been overshadowed by Chinese energy behemoths or sovereign wealth funds. Instead, they have successfully executed a series of major deals involving North American shale gas, large (and contested) Chilean copper mines, and Australian liquefied natural gas (LNG). Thus, while the fortunes of these large Japanese trading houses have fluctuated since the 19th century, they have recently become significant contributors to the natural resources boom and have secured high-profile deals.

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Similar Questions

The question given below has a paragraph which is followed by four alternative summaries. Choose the alternative that best captures the essence of the paragraph.The fortunes of Japan's large trading houses have tended to fluctuate with those of the country as a whole, from its opening-up in the 19th century, through the disaster of war in the 1940s, to the highs and lows of the bubble era. But lately the traders have decoupled. While much of Japan is stagnant, the likes of Mitsubishi and Mitsui have become prime movers in the world's natural-resources boom. This is surprising. In an age of land-grabbing state capitalism, the sogo shosha, as they are collectively known, could easily have been trampled underfoot by Chinese energy giants or sovereign-wealth funds. Instead, they have recently pulled off a string of huge deals involving North American shale gas, vast (and disputed) Chilean copper mines, and Australian liquefied natural gas (LNG).Unlike those of the country, the fortunes of large Japanese trading houses have tended to fluctuate since the 19th century, which is surprising considering today's land grabbing state capitalism.With the fortunes of the country, those of large Japanese trading houses have fluctuated but, of late, companies like Mitsubishi and Mitsui have surprisingly become prime movers in the natural-resources boom and have secured sizeable deals.The fortunes of large Japanese trading houses and those of the country have been fluctuating since the 19th century but, of late, companies like Mitsubishi and Mitsui have become important players in the natural-resources boom and have bagged prestigious deals.While the fortunes of Japan's trading houses, like those of the country, have been fluctuating since the 19th century, lately the trading houses have become prime players and have secured prestigious deals boosting the nation’s economy.

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