Mamdani delivers a political earthquake in NYC mayor primary
Zohran Mamdani's victory in New York City's Democratic mayoral primary is a seismic wake-up call for a party establishment out of step with younger Americans and failing to counter Donald Trump, analysts say.
The little-known state legislator, a proud "democratic socialist", is now favorite to win November's election and become a major voice in the battle between progressives and the establishment wing for the party's soul.
Mamdani, just 33, was at a lowly one percent in the polls in February, but saw off three-term former New York governor Andrew Cuomo with a populist campaign that has Democrats nationwide taking notice ahead of next year's midterm elections.
"The race shows Democratic voters are growing tired of the same old faces and they're willing to bet on newcomers," said political strategist Andrew Koneschusky, a top former Democratic Senate aide.
"Looking ahead, we may see more competitive Democratic primaries and more upsets like this. That's bad news for establishment Democrats, but can be good for the party overall."
Democrats have struggled to make their case as a credible alternative to Republicans since Kamala Harris's 2024 defeat to Trump — seen in part as repudiation of identity politics and so-called "woke" ideology.
But the man who would be his city's first Muslim mayor embraced his identity, courting the one million New York members of his faith where they live — in the city's many mosques and community centers.
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Business Recorder
3 hours ago
- Business Recorder
Who is Zohran Mamdani, New York's presumed next mayor?
A rising star in American politics, Democratic Socialist Zohran Mamdani's surprise victory in New York's mayoral primary signals more than just a generational shift – it marks a broader political realignment at the heart of the Democratic Party. In an election result few in the Democratic establishment could have anticipated, 33-year-old Zohran Mamdani emerged this week as the presumptive Democratic nominee for Mayor of New York City – and likely the next mayor of America's most influential metropolis. His candidacy, once written off as symbolic or fringe, has now become the most potent signal yet of the Democratic Party's internal transformation. The result stunned pundits, thrilled progressives, and triggered panic in boardrooms, especially among the city's wealthy elite. Upstart socialist stuns former governor in NYC mayoral primary John Catsimatidis, billionaire supermarket magnate and owner of the Gristedes chain, warned on a radio show that 'Mamdani is going to turn New York into Venezuela.' He later tweeted: 'If you tax the rich to extinction, they'll move. The rats will be left to run the city.' Real estate developers, Wall Street executives, and private equity investors have also expressed concern, especially over Mamdani's call to cancel tax incentives for luxury developers and reassess zoning laws. Prominent restaurateur Danny Meyer, usually aligned with progressive causes, offered a more tempered critique: 'I admire the energy, but governing requires compromise. Ideology alone won't fix broken sanitation systems or subway delays.' Meanwhile, former President Donald Trump – still politically active and influential among conservatives – mocked the result in a late-night post on Truth Social: 'NYC just nominated a Socialist lunatic for Mayor. Taxes will explode. Cops will quit. Rent will be FREE for criminals! Sad!' Trump added that Mamdani's win was a 'gift to Republicans' in 2026 midterms, calling him 'Bernie Sanders but worse.' In his first post-election interview, Mamdani struck a conciliatory yet firm tone: 'We are not anti-business. We are anti-exploitation. New York will be a place where prosperity is shared, not hoarded.' With a campaign rooted in rent control, taxing the rich, including a 'mansion tax', and reclaiming public goods, Mamdani's rise reflects the growing strength of the Democratic Party's progressive wing. But it also underscores the widening gulf between the party's base and its traditional power brokers. He earned a Bachelor's degree in Africana Studies from Bowdoin College in Maine and first entered the political scene in 2020, when he was elected to the New York State Assembly from Queens. There, he quickly earned a reputation as an outspoken progressive, part of a new generation of Democratic Socialists advocating for housing justice, climate action, and economic equity. As a legislator, Mamdani focused on tenant protections and fare-free public transportation – issues with direct impact on low- and middle-income residents. But his ambitions stretched beyond legislation; he became a symbol of a broader ideological movement aiming to remake urban governance from the ground up. Born in Kampala, Uganda, and raised in New York City, Mamdani is the son of renowned Indian filmmaker Mira Nair, known for 'Monsoon Wedding' and 'The Namesake', and prominent Ugandan academic Mahmood Mamdani, a scholar of African politics at Columbia University. Early this year, he married Rama Duwaji, a 27-year-old Syrian artist based in Brooklyn. Mamdani grew up at the intersection of the arts, global politics, and New York's working-class neighborhoods – a context that deeply shaped his worldview. A platform of economic justice Mamdani mayoral campaign struck a populist, unapologetically left-wing tone. His team built a grassroots coalition that pulled in young voters, immigrants, union members, and progressive activists across all five boroughs. 'New York should belong to the many, not the millionaires,' he declared at a packed rally in the Bronx. That message resonated in a city grappling with rising inequality, housing shortages, and public service cuts. Unlike more centrist Democrats who hesitated to challenge corporate power, Mamdani framed his candidacy as a direct confrontation with the city's real estate and finance elite. In campaign debates, he did not shy away from advocating for higher taxes on top earners, and he routinely criticized Wall Street's influence on local governance. Defeating a former Governor Perhaps the most stunning element of Mamdani's victory was the opponent he overcame: Andrew Cuomo, the former governor of New York who resigned in disgrace in 2021 amid sexual harassment allegations. Seeking political redemption, Cuomo returned to the public arena earlier this year with name recognition and a sizeable campaign war chest and super PAC backing. Mamdani's campaign was powered not by Wall Street donors but by small contributions, door-to-door canvassing, and digital outreach – mirroring the insurgent energy behind Alexandria Ocasio-Cortez and Bernie Sanders. For weeks, Cuomo led Mamdani comfortably, with the former projected to receive up to 55% of the vote. But as the campaign drew to a close, it became clear the electorate favored authenticity over nostalgia. Cuomo's 36% of the vote was not enough to reclaim public trust – and he conceded on election night, calling Mamdani's win 'decisive' and 'democratically sound.' A mayor with a foreign policy? More than anything, it was his foreign policy positions that have made global headlines. His positions on Palestine, Israel, and India have brought both international attention and domestic scrutiny. For perspective, New York, where the United Nations is headquartered is home to the largest Jewish community in the world, outside Israel. During an interview with Mehdi Hasan in December 2024, Mamdani made headlines by declaring, 'As mayor, I would have Netanyahu arrested if he came to New York,' in line with International Criminal Court (ICC) arrest warrants issued against Israeli Prime Minister Benjamin Netanyahu for alleged war crimes in Gaza. 'No one is above international law,' he said, in what many saw as a remarkable break from traditional US political caution on Israel. In an October 31, 2024, post on X, Mamdani stated, 'I will always be clear in my language and based in facts: Israel is committing a genocide.' He has also publicly denounced anti-Semitism as well as affirmed Israel's right to exist. He has also fiercely criticized Indian Prime Minister Narendra Modi, calling him the 'Butcher of Gujarat' – a reference to Modi's role during the 2002 Gujarat riots. His remarks have earned praise from progressive diasporic groups and human rights activists, but have also drawn condemnation from pro-Israel and pro-Modi constituencies in the US. What his win means for the Democrats For the Democratic establishment, Mamdani's ascent is the latest – and perhaps loudest – sign that the party's base is drifting left. Much like Ocasio-Cortez's surprise win in 2018, and Sanders' campaigns in 2016 and 2020, Mamdani's campaign showed how progressive ideas – once dismissed as fringe – now enjoy broad popular support, especially in urban centers. The real test will come in governance. If elected mayor this November – and in heavily Democratic New York, that is the expected outcome – Mamdani will inherit a city plagued by post-pandemic economic wounds, housing affordability crises, and a budget under strain. But if he succeeds, he could become the new face of the American left – a figure whose politics bridge continents and whose policies reshape cities. In the meantime, Democrats across the country are being forced to confront a fundamental question: Are they willing to listen to the people they claim to represent?
Business Recorder
4 hours ago
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Gulf shares rise as Iran-Israel ceasefire holds
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Business Recorder
4 hours ago
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European shares edge higher as Israel-Iran ceasefire holds; Fed independence in focus
European shares edged higher on Thursday, aided by signs that the Israel-Iran ceasefire appeared to be holding, while investors braced for the July 9 deadline for trade deals with the United States. The pan-European STOXX 600 index was up 0.2% at 538.27 points, as of 0839 GMT. Other regional indexes traded higher. Investors have been soothed by a ceasefire between Israel-Iran. U.S. President Donald Trump said on Wednesday he would likely seek a commitment from Iran to end its nuclear ambitions at talks next week. Attention has now shifted to the upcoming July 9 U.S. tariff pause deadline. With limited progress on trade deals, except for a U.S.-UK agreement, the European Union is scrambling to secure its own deals with Washington. On Thursday, EU leaders are expected to tell the European Commission whether they prefer a quick trade deal with the U.S., even if it means conceding better terms to Washington, or to escalate the dispute in hopes of securing a more favourable outcome. 'We haven't heard much about a deal between U.S. and Europe and as we approach closer to the tariff deadline, it's becoming more of a risk factor for Europe,' said Anthi Tsouvali, multi-asset strategist at UBS Global Wealth Management. The bloc is already facing tariffs including 50% on steel and aluminium and 25% for cars and car parts. Trump has threatened that tariffs could rise to 50% without an agreement. Meanwhile, Trump on Wednesday called Federal Reserve Chair Jerome Powell 'terrible' and said he has three or four people in mind as contenders for the top job. The Wall Street Journal reported that Trump may replace Powell as early as September or October. Among sectors, European defence rose 1.3%. NATO leaders on Wednesday backed the big increase in defence spending that Trump had demanded. Rheinmetall and Hensoldt jumped 3% and 2.8%, respectively. Saab rose 3.2%, while QinetiQ was up nearly 4%. Industrial miners led sectoral gains, rising 1.5%. H&M gained 5.6% after the Swedish fashion retailer reported a slightly stronger second-quarter profit. Inchcape rose 6% and was among the top percentage gainers in the STOXX 600, after the British car distributor reiterated its full-year financial outlook. Edenred advanced 5.1% after a French minister updated on the proposed meal voucher reform. EQT gained 5.1% after Citigroup upgraded the Swedish private equity firm to 'buy' from 'neutral'. On the data front, German consumer sentiment is set to edge lower heading into July as households' increased willingness to save counteracts improving income prospects.
