Given their economic and geographic proximity to China, Southeast Asian countries are beginning to warm up to the Chinese renminbi. At this stage, however, it would be premature for Southeast Asian governments to do much more than they have already done.

The Chinese position of resolving disputes with a dual-track approach has been accepted by ASEAN countries. The two sides have important common understanding on jointly maintaining peace and stability in the South China Sea, and notions that China is trying to split ASEAN and that China is seeking hegemony in the South China Sea have effectively been deflated.

The three countries must identify areas of cooperation in Myanmar, such as investment, public service projects among others, and foster a viable cooperation mechanism where interests are shared, risked are distributed. A non-competitive approach will contribute to the economic prosperity of Myanmar and the well-being of its people, and will meet the interests of the three countries and the region at large.

While the U.S. calls for respect of the given ruling under the Law of the Sea Convention, of which the U.S. is not a signatory, none of the predicted responses from China and the Philippines have come true. On the contrary, both have opted for ‘strategic restraint,’ choosing to use dialogue in order to find common ground.

It is unlikely that the decision by The Hague on the Philippines case will settle all of these matters. That said, one can envision a path forward, beginning with an immediate freeze on all activities in the disputed territories. That would lower tensions, allowing everyone to take a deep breath.

Connectivity is a shared interest for China and Southeast Asia, and the Maritime Silk Road represents part of the continuing efforts to highlight this. Southeast Asia is important for China’s neighborhood and periphery diplomacy; hence the management or resolution of regional concerns represents a continuing challenge for Chinese foreign policy.

In an article entitled The South China Sea Arbitration (The Philippines v. China): Assessment of the Award on Jurisdiction and Admissibility recently published

On Tuesday, senior ASEAN diplomats gathered in Yunnan for a special foreign ministers' meeting with their Chinese counterparts. The idea came from ASEAN countries, the turnout was impressive, and the retreat was deemed "timely and important". Amidst media speculation that the discussion pitted ASEAN against China, it will be useful to take a step back and examine the larger picture.

Divergence and competition between the two major players has intensified as both economies and their business communities want to seize the initiative in developing a more profound and mutually beneficial economic relationship with ASEAN. But there is still room for win-win-win results in this tri-cornered interaction.

With its thriving economy, accelerating integration and evolving challenges to the security environment, ASEAN is destined to become an increasingly important region of the world. Its population is bigger than the combined population of the U.S. and Japan, and it represents a major frontier market.