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Opinion is somewhat divided at the moment.
World leaders, certainly U.S. allies, are concerned that George W. Bush has not yet shown much personal interest in foreign affairs. They are concerned about some policies he says he wants to pursue. For instance, in Europe, the idea of building a national missile defense worries some of the European allies, as well as Russia and China. Europeans are also hoping that the new administration does not withdraw American troops from the Balkans, and people in the Balkans know that if the Americans leave, that could send a destabilizing signal to the region. But the general impression is that the Bush administration will not be hasty in withdrawing those troops, and there will be no missile defense for many years to come.