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Even before Barack Obama got out of bed to savour his first day as president-elect, reality wasted no time in kicking him in the head. Already, Russia is threatening to counter outgoing President George W Bush's plans for a defence shield by setting up missiles in Europe.

In Afghanistan, President Hamid Karzai is demanding that Obama "put an end to civilian casualties" by ending the use of air strikes to hunt for militants.

From North Korea, photographs of Kim Jong-il are being publicised in what is billed as a message to the next US administration that their dear leader is still in control - despite reports of brain surgery - and that he may be ready for direct talks.

There's no doubt that electing a black man to the highest office, in a country where racism is still alive and well, gives the world a lot more faith in America. Apart from coming to terms with what Senator John McCain called the "cruel and frightful bigotry" of the past, Americans also elected Obama because of an immediate problem: their wallets. They need a saviour at a time when they are on the verge of seeing another Great Depression.

Americans blamed the incumbent government for the failed banks and rising unemployment. No doubt, the economic slump boosted Obama's candidacy.

With "hope and change" as his slogan, Obama will face the burden of living up to these expectations and promises. This burden of expectations does not just come from his voters, but also the international community, which is waiting to see how he fixes the economy and if he will deal with the global security issue in a more cooperative way.

While Obama's immediate task will be to restore the US economy, he may not have too many tools at hand. The US trade deficit has hit a record high, and the US$700 billion (24.5 trillion) earmarked to bail out the failed financial institutions doesn't seem to be enough to stop the bleeding. Unemployment is rising and the stock markets have taken a nosedive.

Therefore, the new president will have to try to improve the United States' competitiveness as well as find ways to fix the country's finances before problems trigger a global recession.

High trade deficits in the US will certainly be scrutinised by the new administration. However, the new president should not resort to protectionism to boost the economy. During his campaign, Obama told the Americans that unemployment was caused by the relocation of factories and free-trade agreements.

However, he must find a better and more constructive way of boosting the US manufacturing sector instead of passing a protective trade law, which partly contributed to the Great Depression in 1930.

The Bush administration is leaving behind the consequences of its failure to embrace the international community and the UN as well as its decision of going to war against Iraq.

The United States has at times been accused of trying to impose its values on others without considering cultural backgrounds or the environment of other nations. However, since he has been raised in a multiracial environment, Obama should understand the dangers of setting stereotypes and using a single standard to measure others.

Obama has said he intends to fix things that have gone wrong for decades in Washington. Now the international community is waiting to see if he can actually live up to his slogan of "hope and change".