Harvard Business Review (HBR) has released its annual survey of CEOs and other global business leaders today, showing worldwide that 56 percent surveyed say they are "more optimistic" about Washington’s ability to lead now that the election is over. Interestingly, much of that hope comes from outside of the U.S. with more than two-thirds of European business leaders stating that they are now more hopeful. In the U.S., a bit less than half of the respondents – 45 percent – feel that way.

"I think there’s relief that the election is over, and genuine hope, particularly overseas, that Washington will do the right thing and reach an agreement on taxes and spending that can help propel the global economy," Adi Ignatius, editor in chief of the Harvard Business Review Group, said in a statement.

The HBR survey also reveals the high expectations business leaders have for China’s economy, despite its own recent troubles. In fact, many expect China will supplant the U.S. as the global economic leader in ten years.

The business executives overwhelmingly agreed that the U.S. is the current global economic leader – 60 percent of respondents said the U.S. is number one, compared with just 31 percent who picked China. But when asked who will be dominant in 10 years, nearly half – 46 percent – picked China, while just a quarter of respondents thought the U.S. would retain that position.

In the short term, there is still considerable concern about the state of the global economy. Sixty-five percent of the business leaders say that further global decline is likely in the coming months. Most respondents generally expect things to be a bit better next year, though about half – 49 percent – think global growth next year will be less than two percent.

The primary danger zone is Europe. The HBR survey asked business leaders to name their biggest area for concern, with 84 percent naming the Eurozone. Three-quarters of respondents said they expect growth in Europe this year to be 1.5 percent or less.

When asked about their own companies, however, business leaders seemed more optimistic. A full 60 percent of respondents say they are confident their companies will reach their revenue goals this year. And many seem ready to hire: 35 percent expect to increase staffing levels in 2013, while only 16 percent expect their staff to decline.