Robert J. Art is one of my favorite strategists. In his book, "A Grand Strategy for America", he outlines a particular strategy called "Selective Engagement".
I prefer this choice, instead of others that he lists as viable options:
-Dominion, Collective Security and Containment
-Isolationism and Offshore Balancing
Selective Engagement is a "shaping strategy"; with emphasis on the retention of key alliances and foward military presence in strategic locations in order to mold political, military and economic configurations that are in place or developing.
The idea behind this particular approach is "What is good for America is good for the World."