50% poor analysis. If the NK nuclear/ missile threat goes away, Japan will have far less impetus to rearm.
Much of the Chinese military modernization is directed at containing a possible threat from Japan.
The Chinese have never forgotten the brutality of the Japanese occupation during World War II.
China would prefer a strong US presence on the Korean peninsula both as a stabilizing factor and to deter possible Russian moves against China.
Getting rid of NK’s nukes also makes China a guarantor of NK’s survival.
If it unfolds that way, its a win for Beijing and Presidents Trump and Xi have good relations.