HONG KONG — As the world prepares to bid farewell to U.S. President George W. Bush in a few months, his foreign policy lies in tatters. Wars continue in Iraq and Afghanistan, a crisis looms in Iran, relations with Russia are badly strained, and now North Korea is threatening to restart its nuclear-weapons program.

There is one bright spot: China. Despite a rough start at the beginning of his presidency when there was a crisis triggered by a midair collision between a Chinese fighter jet and an American reconnaissance plane, Bush has by and large enjoyed a good relationship with the Chinese leadership.

This was reflected in the telephone conversation last Monday between the two leaders, when Bush briefed his Chinese counterpart, Hu Jintao, on the financial upheavals in the United States and Hu praised the "good momentum of the development of Sino-U.S. ties."