In 1974, music critic Jon Landau went to see Bruce Springsteen live at the Harvard Square Theater and declared: “I saw rock and roll’s future and its name is Bruce Springsteen.” Two weeks ago, I heard various luminaries discuss capitalism at the Harvard Club in New York. Their conclusion: “I have seen capitalism’s future and its name is China.”

As the rain fell outside, 120 attendees gathered for the latest Financial Times “View from the Top” conference. The weather mirrored the dampness of spirits in the room.