I am sure the reason he is backing Obama, is because he thinks Obama will be much more liked by the rest of the world. The US as a whole will be looked upon in better light by the rest of the world.
Also, with the economy the way it is, he feels we need a leader who can calm the people, and speak with a level of authority and elegance.
Obama's qualities in this department are far better then McCains.
Too bad his policies suck (imo).