I ran across two really great web sites that cover world politics. One is called Global Voices and is a collection of bloggers from around the world. It covers parts of the world that don't generally get coverage in the U.S. media, like Lebanon and Haiti.
Voices Without Votes is another interesting site that covers the U.S. presidential elections from the perspective of international bloggers. Right now, for instance, there is an interesting piece on how Iranians view the current elections here in the U.S. Worth a look.