In global terms, the defeat of Mahinda Rajapaksa in Sri Lanka’s presidential elections in January ranked as a mere political tremor. But for China’s policy of financial diplomacy — a key strand in Beijing’s strategy to win friends and commercial advantage around the world — the loss has been convulsive enough to rearrange the region’s diplomatic furniture.

Sri Lanka’s new leader, Maithripala Sirisena, has not hid his antipathy toward China. In a veiled reference to Chinese policy-backed loans worth several billion dollars, Mr Sirisena blamed “foreigners” during his election campaign for stealing his country.

“This robbery is taking place before everybody and in broad daylight?.?.?.?if this trend continues for another six years our country would become a colony and we would become slaves,” he said in his manifesto.