President George W. Bush’s February visit to Beijing and expected visits to the United States by Chinese Vice President Hu Jintao and President Jiang Zemin later this year mark an interlude for evaluating the effectiveness of Bush administration policy. Thus far, the current U.S. administration over the past year has done a better job developing and employing U.S. leverage regarding China than any U.S. government over the past three decades. It has established the basis for a delicate but sustainable balance in U.S.-China relations that is acceptable to Beijing and more favorable to Washington’s key interests.