For what it's worth, here's Le Guin's interpretation:
So people who set their bodily good
before the public good
could be entrusted with the commonwealth,
and people who treated the body politic
as gently as their own body
would be worthy to govern the commonwealth.
And her commentary:
"[Lao Tzu] sees sacrifice of self or others as a corruption of power, and power as available to anybody who follows the Way. This is a radically subversive attitude. No wonder anarchists and Taoists make good friends."