At the end of a long day of meetings today in London, President Obama spoke to the press...and pretty much made our argument for us (transcript after the jump):

Well, if there's just Roosevelt and Churchill sitting in a room with a brandy, that's a -- that's an easier negotiation. (Laughter.) But that's not the world we live in, and it shouldn't be the world that we live in.

And so that's not a loss for America; it's an appreciation that Europe is now rebuilt and a powerhouse. Japan is rebuilt, is a powerhouse. China, India -- these are all countries on the move. And that's good. That means there are millions of people -- billions of people -- who are working their way out of poverty. And over time, that potentially makes this a much more peaceful world.

And that's the kind of leadership we need to show -- one that helps guide that process of orderly integration without taking our eyes off the fact that it's only as good as the benefits of individual families, individual children: Is it giving them more opportunity; is it giving them a better life? If we judge ourselves by those standards, then I think America can continue to show leadership for a very long time.

Transcript

Jonathan Weisman (WSJ) - Thank you, Mr. President. During the campaign you often spoke of a diminished power and authority of the United States over the last decade. This is your first time in an international summit like this, and I'm wondering what evidence you saw of what you spoke of during the campaign. And specifically, is the declaration of the end of the Washington consensus evidence of the diminished authority that you feared was out there?

President Obama - Well, first of all, during the campaign I did not say that some of that loss of authority was inevitable. I said it was traced to very specific decisions that the previous administration had made that I believed had lowered our standing in the world. And that wasn't simply my opinion; that was, it turns out, the opinion of many people around the world.

I would like to think that with my election and the early decisions that we've made, that you're starting to see some restoration of America's standing in the world. And although, as you know, I always mistrust polls, international polls seem to indicate that you're seeing people more hopeful about America's leadership.

Now, we remain the largest economy in the world by a pretty significant margin. We remain the most powerful military on Earth. Our production of culture, our politics, our media still have -- I didn't mean to say that with such scorn, guys -- (laughter) -- you know I'm teasing -- still has enormous influence. And so I do not buy into the notion that America can't lead in the world. I wouldn't be here if I didn't think that we had important things to contribute.

I just think in a world that is as complex as it is, that it is very important for us to be able to forge partnerships as opposed to simply dictating solutions. Just a -- just to try to crystallize the example, there's been a lot of comparison here about Bretton Woods. "Oh, well, last time you saw the entire international architecture being remade." Well, if there's just Roosevelt and Churchill sitting in a room with a brandy, that's a -- that's an easier negotiation. (Laughter.) But that's not the world we live in, and it shouldn't be the world that we live in.

And so that's not a loss for America; it's an appreciation that Europe is now rebuilt and a powerhouse. Japan is rebuilt, is a powerhouse. China, India -- these are all countries on the move. And that's good. That means there are millions of people -- billions of people -- who are working their way out of poverty. And over time, that potentially makes this a much more peaceful world.

And that's the kind of leadership we need to show -- one that helps guide that process of orderly integration without taking our eyes off the fact that it's only as good as the benefits of individual families, individual children: Is it giving them more opportunity; is it giving them a better life? If we judge ourselves by those standards, then I think America can continue to show leadership for a very long time.