The world is going gaga over the victory of 47-year-old Barack Husein Obama in the United States, but miles and miles away a tiny nation on the lap of Himalayas made a quiet entry into history by electing the world's youngest King.

At 8:31 local time on Thursday, Bhutan  -- the world's youngest democracy -- got its new king: Jigme Singye Wangchuck, 52, placed the Raven crown on the head of his eldest son, making the 28-year-old Jigme Khesar Namgyel Wangchuck the druk gyalpo, or dragon king.  

Oxford-educated and an avid basket ball player, Khesar offers hope for the tiny kingdom.

The previous King once famously said, "I am not concerned about the Gross National Product, but the Gross National Happiness."

Can Khesar make Bhutan a happy nation?  The world awaits the answer. 

Image:  Khesar receives the 'Elephant of Fortitude', one of the Gyel-sid Na-duen (seven precious symbols of the Universal Emperor) during his coronation ceremony in the Throne Room of the Tashichho Dzong on Thursday in Thimphu, Bhutan. The young Bhutanese king is the youngest reigning monarch on the planet now.

Photograph: AFP/Getty Images