The latent feeling that globalization may be an American-directed plot to undermine their country's place in the world

…polls repeatedly show that the French people are alarmed about the effect of globalization, with the latent feeling that it may all be an American-directed plot to undermine their country's place in the world

writes Jonathan Fenby.

President Nicolas Sarkozy epitomizes this duality.

…The strength of nationalist feeling and distrust of the wider world has been shown in France in recent years: First by the continuing strength of the chauvinist far right of Jean-Marie Le Pen's National Front before Sarkozy stole its electoral clothes this year, and, second, the rejection of the European Union Constitution in the 2005 referendum. The vote was less about the wording of that massive document than a dismissal of what is known in France as Anglo-American economic liberalism, which is castigated by everybody from the Communists to Chirac.

…like de Gaulle, [Sarkozy] is also deeply attached to the French state, and the use of its power to get his way. He showed this when he intervened personally to sew up a deal forcing a merger between the Suez energy and environmental group with the state gas company, Gaz de France. Sarkozy is now busy to promote a similar link-up to create a nuclear group around France's Areva company.

…A couple of years ago, the mere rumor that Pepsi Cola might be thinking of buying the French food group Danone set off a storm of protest in France. Danone, meanwhile, continued its expansion as a major player in the fast-growing milk products business in China without raising any eyebrows. The Chirac administration drew up a comprehensive list of "security" industries where foreigners would not be allowed to invest — including casinos. The list has not been modified under the new president.

The inheritance of the powerful state, the tradition of nationalist economic policy stretching back to the era of Louis XIV, and the doubts many French have about the challenges of globalization all influence the new president. How he resolves them will be a continuing story of his five-year term.