I for one wouldn't mind a more level playing field in terms of there being another major global player besides the United States. I mean no disrespect to our American friends south of the border, but in terms of America's current policies - it wouldn't hurt for there to be another global player, such as the EU. During the Cold War, America had to rely just as much on moral highground and ethical superiority as it did military might, since the USSR outweighed the American military in terms of heavy industry. Both sides were evenly matched in terms of strategic deployment of nuclear missiles, hence MAD.
Now that there is no official "second power" in the world - the US no longer has to rely on the moral highground in order to win over the rest of the world's support. As we've all seen very recently in regards to the US war on Iraq, the US no longer has to think as heavily about how its policies may be interpreted by the world's citizens, since the US believes they no longer have to win over their hearts and minds in the face of a national adversary of equal or greater power. This decline in the US moral highground may go unchecked until either another US leader is put in power, or until another global force emerges that causes the US to pause and remember that winning the hearts of the world's citizens is more important than being able to control them via foreign and defense policy.
Lets tell the rest of the world there are WMD in Iraq, and invade them at great human and financial cost. And, almost 1.5yrs after the end of "major combat operations", lets officially say that no - we were mistaken, there were no WMD. However, we did manage to oust Saddam - that has to count for something, right? Lets not officially say we're going to start racial profiling at our airports - after all...its not like we have a history of racial prejudice or anything. But at the same time, lets give everybody who has a darker skin complexion the gears, after all - they might be from either the Middle East or South America. Lets tell the rest of the world that they are either with us, or against us - after all, its not like we're supposed to respect the viewpoints or listen to the ideas of other countries, right? Oh, but how dare they challenge us! They are either with us, or against us - whats so hard that the rest of the world can't understand? Sheesh.
Okay, so some of the above might have been embellished just a little bit - but the points remain the same. We in Canada might see American foreign policy different than people in the US, China, or the Middle East. We share a border, we have common interests, we share cultural values, we share a similar system of criminal justice and corrections - Canada and the US are essentially very good friends, despite whatever snit we might get into sometimes. But for people in the EU, China, or the Middle East - they don't have the luxury of a relationship with the US that we do. People in the regions mentioned above might see the above paragraph as being more true to life, whereas we in Canada might see it as a bit of an embellishment and exaggeration.
The underlying point to all of this is; a foreign power who has the will and the means to challenge the United States will force the US to start fighting for the moral highground again. I'm not saying the US has turned into an evil empire by any means; but lets face the real world - the US has some foreign policies that really do cause a lot of people to shudder. The US is its own worst enemy - terrorism is a byproduct of continued arrogance. Its hard for us in the west to truly understand this; it wasn't until my wife and I were in Tehran last year that we really understood the foundation of terrorism. Yes - there are extremists out there who would rather kill innocent people than change their way of life - and a bullet to the head would warrant no objection from me. But, a lot of those the US calls "terrorists" perhaps aren't as extreme as the western media makes them out to be. Or perhaps they weren't, before the current conflict. Remember the quote: Perception is Reality? Well if certain groups of people in the Middle East PERCEIVE and BELIEVE their religion is coming under attack, that is their REALITY. And if there is one thing I learned to respect about the Muslim religion in my experiences over the course of 7 months in Iran, Turkey, Syria, Saudi Arabia, Qatar, and Egypt - is that they will do anything that they feel is necessary to protect their religion. The real problem lies not just with the groups of actual terrorists or extremists out there - but with the sense of urgency groups within the Muslim world feel as if they are under attack from the west.
I could rant on about this for a long time - but I implore you to think about this issue BROADLY. Think about certain, specific instances in the past - and in the present, in the form of both military action and developments in foreign policy. If the United States wanted to continue to dominate the globe militarily, it could easily do so. If the US managed its economy better, and was determined to continue to dominate the world in terms of economic and military power, it could be done - don't ever doubt the US' ability to accomplish a goal. However, unless the US has the ability to regain the trust and empathy of the world's citizens, I can't help but see a foreign power gaining enough influence to challenge American policy and influence. I don't mean to sound alarmist in the sense that it will lead to armed conflict, but unless the US can gain the trust of the people of the world yet again, a foreign power might not have to match the US military capability in order to influence global politics.