The writer is an FT contributing editor and writes the Chartbook newsletter
Sometimes coincidence illuminates history.
Last week, the news that self-declared democratic socialist Zohran Mamdani had won the Democratic mayoral primary in New York City, the capital of global finance, broke just as Chinese Communist party premier Li Qiang was in the midst of his address at the World Economic Forum’s Summer Davos meeting in Tianjin, China. Delegates shared their disbelief, not at what they were hearing from the podium, but from the other side of the world.
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