There is no victory.
The Chinese and North Korea have gotten what North Korea has demanded for years - face to face U.S.-North Korea negotiations with no preconditions that North Korea must meet to have such a meeting.
Ignored is that (a) North Korea may meet with South Korea but does not consider the South Korean government legitimate, and (b) North Korea considers the U.S. as “in charge of” South Korea, and (c) the only “peace” North Korea seeks is U.S. agreement on “reunification” of Korea, on the North’s terms.
What’s going on now is all a show that ignores all that. If Trump ignores it all, he does so at the peril of South Korea immediately and the U.S. and Japan longer term.
Must really be tough to get up in the morning.