Somewhere in between is about right.
By virtue of being a democracy and the richest country they are the leaders of the (Western) 'free-world' - nothing happens without their consent.
Whether they lead us with moral authority is another matter.
The free world is equally problematic - many countries are 'democracies' i.e. they have elections, but who would think off Iraq, Afghanistan, Russia, Pakistan, India, etc as places to live a free life.
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