The aftershocks of the financial crisis are spreading across the world. Iran is forging ahead with its nuclear programme. Relations with Russia are at a post-cold war low, with Moscow announcing plans on Wednesday for new missile deployments. The nuclear non-proliferation system is in trouble and a climate change treaty seems painfully hard to agree.

No wonder the most experienced diplomats in the US say Barack Obama faces more foreign policy challenges than any other newly elected president and will have next to no time to adjust.