Given that the 21 members of the Asia-Pacific Economic Cooperation forum account for some 54 percent of global GDP and about 44 percent of world trade, the agenda for this month's Asia-Pacific Economic Cooperation summit should be drawing much global attention. Yet the only issue in which anyone seems interested is whether Chinese President Xi Jinping and Prime Minister Shinzo Abe will meet on the sidelines, and if they do, whether a substantive discussion to ease bilateral tensions will take place.

Of course, this is not altogether unreasonable, given the two countries' importance in shaping East Asia's future. Indeed, the uncertainty about whether two of APEC's key leaders will even speak to each other highlights the grim reality of Asian international relations today. The supposed "Asian century" is being thwarted by a paradox: Deep economic interdependence has done nothing to alleviate strategic mistrust.

Given the recent deterioration of Sino-Japanese relations — a decline that accelerated in 2012, when Japan purchased the disputed Senkaku Islands (Diaoyu Islands in Chinese) from their private owner to prevent Japanese nationalists from taking control of them — the mere fact that Abe will attend the summit is a major step. A meeting between Abe and Xi — their first since either came to power — would offer concrete grounds for hope.