There has been considerable debate since last month’s historic North-South Korea summit as to the meeting’s impact on the Peninsula’s neighbors and benefactors. Among the major powers, the conventional wisdom seems to be arguing that China fared best. However, I would argue that all four major powers have come out ahead and that the U.S., Japan, and even Russia may end up gaining relatively more in the long run. If managed carefully, the summit process can result in a multiple “win-win” outcome.