However, I believe both titles are applied to specific office holders in the modern day. The U.S. president is called the leader of the free world by many. I believe the title leader of the world is bestowed upon the Pope during Papal inaugurations.
Saying that the U.S. got its leadership position because no one else wanted it is historically incorrect. Following WWII, every other major democratic power was in ruins while the U.S. was the sole major power left in tact. Without any military attacks on U.S. soil, U.S. military strength had skyrocketed during the war. As the war progressed, the U.S. attained the status of a great power and by the war’s end had become a nascent super power. U.S. strength continued to grow after the war due to the threat of the Soviet Union. Meanwhile, the other great powers never fully recovered militarily since they focused on their economies while relying on the U.S. for security. The U.S. gained its leadership position because no one else existed that could claim it.