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By Oana Lungescu
BBC European Affairs correspondent
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The world has been watching the French election closely, but world affairs have been largely absent from the campaign.
Mr Sarkozy has been seen as pro-American in France
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However, as a nuclear power with a permanent seat on the United Nations Security Council, France matters, and foreign policy is a traditional preserve of the president.
A future President Sarkozy or Royal will sign international treaties, speak for France at the EU, and act as commander-in-chief of the country's sizeable armed forces.
The outgoing president Jacques Chirac was a friend of the Arab world who famously defied Washington over the Iraq war.
His successor is expected to bring a change of tone, rather than substance.
Even the conservative Nicolas Sarkozy, dubbed "the American" by his critics, has changed his stance to reflect the prevailing anti-American sentiment among French voters.
After a visit to Washington last year to mark the 9/11 attacks, during which he assured president George Bush that he would begin "a dialogue without arrogance" with the US, he now sounds as critical of the war in Iraq as his socialist rival Segolene Royal.
She wants Europe to ask President Bush to respect a calendar for troop withdrawal from Iraq and to resume a dialogue with the Arab world. Mr Sarkozy is urging Washington not to repeat the "historic mistake" made in Iraq by launching an attack on Iran.
Getting tough
Both candidates favour tougher sanctions against Iran's nuclear programme (even without UN backing, according to Mr Sarkozy).
Both would use French influence at the UN to firm up sanctions over Darfur. Mr Sarkozy warned that Sudanese leaders who allowed what he called a genuine genocide should be taken to an international court.
Ms Royal caused a stir with comments about China's legal system
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But while Segolene Royal has raised the possibility of a boycott against the Beijing Olympics because of Chinese support for Sudan, Mr Sarkozy argues that the games would bring openness to China.
In one of the few clear breaks with Mr Chirac's foreign policy, both Mr Sarkozy and Ms Royal oppose lifting the EU embargo on arms sales to China, imposed after the crackdown on the Tiananmen Square protests.
Segolene Royal, who earlier this year caused an outcry in the French media when she praised the efficiency of the Chinese legal system, now says the country still has a lot to do in terms of democracy and human rights.
Brussels backs Sarkozy
When it comes to Europe, the presidential hopefuls agree on a few things, but not many.
They blame many of France's economic ills on the strong euro and call for greater protectionism. But they also claim they want a strong Europe, with France at centre stage.
If elected, the first foreign trip of either candidate would be to Germany, France's traditional partner in Europe and the country holding the EU presidency, to find a way out of the impasse in which the EU finds itself after French and Dutch voters rejected the constitution in 2005.
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What EU leaders are hoping for is a French president that can help the bloc out of its crisis
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Chancellor Angela Merkel urgently needs to hear the views of the next French leader to see how she can relaunch work on a new EU treaty by June.
EU diplomats favour Mr Sarkozy's idea of a slimmed-down text, to be ratified by the French parliament.
They are not so keen on Segolene Royal's plans to add stronger social provisions to the treaty (including a Europe-wide minimum wage that most other EU countries oppose) and to hold a second referendum in 2009.
Turkey split
Turkey's eventual membership of the EU also divides the candidates.
While Ms Royal backs Turkish accession in the long run - if the country enacts democratic reforms and gains the approval of the French voters in a referendum - Mr Sarkozy is openly hostile, in line with French public opinion.
Turkey's place, he says, just is not in Europe. He would offer Ankara a "special partnership," within a new EU-led Mediterranean Union, which would also include countries from the Middle East and North Africa.
But these are long-term ideas that may never get the backing of France's partners.
What EU leaders are hoping for is a French president that can help the bloc out of its crisis, regardless of whether the next resident of the Elysee Palace is called Nicolas Sarkozy or Segolene Royal.