Answer:
Yes it is (we already have one)
An international orbiting space station would be a great idea! We could use the space station as a refueling point for passing spaceships. This could helps us achieve things such as space exploration, mars/moon colony, or even contact with other unearthly organisms. This could also allow us to conduct space research.
No it isn't
An international orbiting space station is a horrible idea! The first thing to think about is the money. This would put the entire area in stasis as we try to raise money for the space station. We also need contact with the humans/robots in space! Building a space station would confuse other nations as to what we plan to do with said space station. This could cause a war of some sort.