AFTER the historic summit between the US and North Korea, Donald Trump and Kim Jong-un published a joint declaration, seeking to establish a new relationship to pursue the "complete denuclearisation of the Korean Peninsula". After a confrontation lasting for several decades, leaders of the two countries have finally engaged in dialogue. This signals that the situation on the Korean peninsula is showing signs of real de-escalation. As the Democratic People's Republic of Korea (DPRK) steps out of isolation, the situation of Northeastern Asia is about to change. This summit might indeed increase Donald Trump's chances of winning a Nobel prize for peace. But the US has gained few real advantages. Not only does the joint declaration fail to state clearly the principle of "complete, verifiable, irreversible denuclearisation" (CVID) as demanded by the US, but Donald Trump has also called off the US's joint war games with South Korea. That Kim has successfully extracted a string of concessions from Donald Trump without offering too many compromises can be regarded as a major diplomatic victory.