The world community wants the United States in a leadership role. It wields a lot of military, economic, and cultural power, and everybody knows it. It's hard to get anything accomplished without US support and very challenging to do anything that the US is opposed to.
The world wants the US to lead, but doesn't want the US to dictate. Nobody likes a unilateralist, and just giving the stakeholders a seat at the table and listening what they have to say can work wonders. Even if you don't yield much of substance, taking the time to listen and explain why eases bruised egos and hard feelings. Obama's image as a patient, flexible and reasonable leader has done a remarkable job of transforming America the Dictator to America the Leader in the eyes of the world. Just try to imagine Bush speaking at the UN on any subject at all with France (France!) backing him up.
The question you're really asking is whether the US should bother with soft power (culture, diplomacy, moral suasion) or just rely on hard power (military, economic) to look after US interests.
The great thing about soft power is that it brings other countries around to your point of view at low cost, or even negative cost. One example is Hollywood movies, which are exported around the world along with their American values, and some countries even pay for the privilige of watching them (even the bootleggers still get exposed to American ideas). Skillful use of soft power can open up agreements and co-operation which makes goals easier and cheaper to attain.
The problem with using hard power is that it's expensive to use and maintain. Economic sanctions cuts off potential trading partners and military operations exact a hefty price in finance, lives, and domestic support. On top of that, you come off as a bully, so the more you use your hard power, the more soft power you burn up in the process. The next time you need to pursue a goal, you find that your soft power won't do the trick, and you have to resort to expensive hard power again, stumbling down the path of imperial overreach. There's a place for hard power, obviously, but using the expensive solution to every problem will bankrupt you.
If you want to read up on the subject, I suggest you check out Joseph Nye's book, The Paradox of American Power: Why the World's Only Superpower Can't Go it Alone.
"The worst part about these reviews is they are [subjective]--and their scores often depend on how drunk you got the media at a Street Fighter event." — Mona Hamilton, Capcom Senior VP of Marketing
*Image indefinitely borrowed from BrainBoxLtd without his consent.
