I thought about this for a bit.
I'm actually happiest with my own personal position.
Democratic socialism or a Social Democracy with tough regulation on business activity, strong emphasis on public services such as social welfare and with special regards to education. And liberal policies when it comes to personal issues. Foreign relations would generally be to foster relations based on benefit to the individual state with exception of not dealing with extreme countries (poor human rights abuses or dictatorial governments etc) unless absolutely necessary. The country's income would come from a mix of primary, secondary and tertiary services in balance with a strong emphasis on new technologies and dealing with emerging nations.
How do you define "absolutely necessary"? Neo-cons in Washington will say that its absolutely necessary to deal with certain governments (energy rich countries that have dictatorships) otherwise the American economy (probably the world economy too) would collapse without dealing with such regimes.
I know you asked for a world, but I think it's almost impossible to successfully govern the world as one, that's why we haven't seen a one world government, and it seems unlikely that we'll see one in the future.
Sounds almost like Sweden.
I know it's not very imaginative, but that's how I see the ideal world. Actually, scrap that, the ideal world should be an educated and rational populace with a large stake in government and society and fair democracy, it's important to balance all sides of the debate and with a largely educated populace this should be even better, it would also be important to make sure that society and policy changes with new challenges and to incorporate fresh ideas.0
The very Sweden who has been involved with arms dealings with Saudi?
Their
defence minister recently resigned over this.