There was this article yesterday -
World hopes for a 'less arrogant America'
http://news.yahoo.com/s/ap/20081104/ap_on_re_eu/eu_us_elections_world_view
I think Obama has a chance to repair the damage that Bush has done with respect to foreign relations.
Much will depend on how Obama moves forward with Iraq. Looking at it now - the occupation of Iraq looks a lot like the Soviet occupation of E. Europe after WWII, and it took nearly 45 years to change. I'm reading several books on the subject of Bush's war in Iraq, and one startling revelation by one general is that the US should plan to have military forces (and perhaps mercenaries) established in the region for 50 years. This draws parallels with the Soviet Warsaw pact, at least as Iraq (Baghdad) is concerned, and whether or not the US government is directly involved in who serves in the Iraqi government.
If Iraqis decided to have their country free of US forces, will that be the case? Will Iraq be allowed to independently established normalized trading relationships with Syria and Iran, or will their be pressure from the US and Sunni nations (e.g. Saudi Arabia, Kuwait, UAE, Egypt, . . .) to meddle in Iraqs relationship with Syria and Iran? These matters have yet to be resolved.
On the bright side and in parallel with the challenges facing the US and world:
Catholics, Muslims open landmark talks at Vatican
http://news.yahoo.com/s/nm/20081104/ts_nm/us_religion_dialogue
This is a very hopeful step in the right direction.