Well, if I remeber correctly the recession was already ending before the election was over, (after revised numbers released

).
Pressure from Clinton had already forced Bush to intervene in Yogoslovia, but he was reluctant, assume less intervention. Detail? I would have to go back and review.
Rwanda? No change, no one in the West cared.
Iraq? Probably no change, throughout his administration. No real chance of Saddam changing his behaviour, no support for more aggressive American policy pre-9-11.
Improbable, but possible, H.W. Bush was very experienced, could have forseen eventual collaspe of sanctions and decided to preemptively disentangle US to avoid loss of face later.
Other events. No Bill Clinton means no Bimbo scandals, thus less discrediting of the feminist movement. Could derail Arnold's election to the Governator, OTL there were some issues with past sexual harrasment accusations. Little impact post-Bill.
More Republican appointments to the Court.
Reelction of Bush empowers the Old Guard among GOP.