At the World Economic Forum in Davos this week, French President Emmanuel Macron delivered a message to Beijing and the United States: “China is welcome, but what we need is more Chinese foreign investment in Europe, in key sectors,” he said.

This follows a similar pattern of European diplomacy. For two decades, European leaders dismissed warnings about Moscow’s intentions while deepening their economic dependence on Russian gas and oil. Now, as Paris courts Chinese investment in critical sectors of the French economy, the continent is walking the same path with Beijing.