Churchill on Appeasement

Adam Gopnik's long New Yorker piece on Winston Churchill includes this surprising statement from 1950:

The word ‘appeasement’ is not popular, but appeasement has its place in all policy. Make sure you put it in the right place. Appease the weak, defy the strong. . . . Appeasement from strength is magnanimous and noble and might be the surest and perhaps the only path to world peace. When nations or individuals get strong they are often truculent and bullying, but when they are weak they become better-mannered. But this is the reverse of what is healthy and wise.