Bush leads the world? Really?

While attacking Kerry today Bush stated "You cannot expect to lead this world if you try to take both sides of every position." Now I will grant you being president of the United States is close to the most powerful position in the world. But to say that you lead the world is a bit rich coming from someone who ignored world opinion to wage an ill-advised war without any semblance of an exit strategy. Other than Britain and Australia and the right wing of the republican party, who exactly is Bush leading?