As recent economic developments have shown, China is intimately connected to the rest of the world. Yesterday's sharp cut in interest rates is a direct result of that interdependence. In the present climate, the Chinese authorities must make more effort to build and maintain their alliances.

Mr Sarkozy was entirely within his rights to ignore calls from Beijing not to meet the Dalai Lama. The occasion is a meeting to honour Poland's Lech Walesa, a Nobel prize winner like the Tibetan leader. It is hardly a deliberate show of support by Mr Sarkozy for the Tibetan campaign for greater autonomy.

Chinese sensitivity to meetings with the Tibetan leader is hard to fathom. His peaceful “middle way” calls for protection for the Tibetans' distinct culture, language and identity within the People's Republic. His main source of political weakness among his own people is his moderation and his unwillingness to consider more extreme measures. He discourages violence.