Americans elected Democrat Barack Obama as their first black president on Tuesday, in a transformational election which will reshape US politics and reposition the United States on the world stage.

Obama (47) will be inaugurated the 44th US president on 20 January 2009, and inherit an economy mired in the worst financial crisis since the 1930s, two wars in Afghanistan and Iraq and a nuclear showdown with Iran.

Television networks projected his victory over Republican John McCain after Senator Obama solidified traditional Democratic states and cut deep into the Republican territory which his rival needed to control to win the White House.

Obama's historic inauguration will complete a stunning ascent to the pinnacle of US and global politics from national obscurity just four years ago and close an eight year era of turbulence under President George W. Bush.

New dawn of American leadership

Barack Obama said on Tuesday that a new dawn of American leadership was at hand and stressed the shared destiny of the United States and the rest of the world.

"It's been a long time coming. But tonight, because of what we did on this day, in this election, at this defining moment, change has come to America," he said in front of a crowd of 65 000 people.

He continued: "All of those watching tonight from beyond our shores, in the parliament and in the palaces, those huddled around radios in the forgotten corners of the world, our stories are singular but our destiny is shared.

"A new dawn of American leadership is at hand," he said to applause.

"To those who would tear the world down, we will defeat you. To those who seek peace and security, we support you.

'The power of our ideals'

"We have proved that the true strength of our nation comes not from the scale of our wealth but from the power of our ideals — opportunity, democracy, liberty and hope."

He paid tribute to his campaign team, his wife, children and recently deceased grandmother.

"Along with the family that made me who I am. I miss them tonight. I know that my debt to them is beyond measure," he said.

He added: "I was never the likeliest candidate for this office. We didn't start with much money or many endorsements.

"Our campaign was not hatched in the halls of Washington. It began in the backyards of Des Moines and the living rooms and the front porches of Charleston."

AFP