"What could the militant parochialism of Brexit Britain and Trumpist America have to do with neoliberal rationality? What possible connection is there between the president – a freewheeling boob – and the bloodless paragon of efficiency known as the free market?" (The Guardian.)
Does "could" refer to the past time or is it a modal (hypothetical) one referring to the present in the passage above?
is it a modal (hypothetical) one referring to the present in the passage above? Yes. Consider that 'What possible connection is there .
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is it a modal (hypothetical) one referring to the present in the passage above? Yes.
Consider that 'What possible connection is there . . .' also indicates present time.