United States President Donald Trump won a lot of praise for walking out of the negotiations with his North Korean counterpart, Kim Jong-un, last week. Prior to the two-day summit, there was speculation that both leaders were looking to make a deal. Hopes for such a deal have been dashed, at least for now, after Mr Trump refused to give in to Mr Kim's demand to move forward.
Mr Kim, as usual, had nothing to say about the events that unfolded in Hanoi. His official spokesman, Foreign Minister Ri Yong-ho, told the media that North Korea had offered a deal -- if the US agrees to lift some of the sanctions hurting Pyongyang's economy, North Korea would "completely" dismantle its nuclear enrichment facilities at Yongbyon, where much of the plutonium used to build the country's nuclear arsenal comes from.
Meanwhile, according to the US version of the talks -- as set out by Mr Trump, and backed by his aides -- Mr Kim offered to destroy the Yongbyon reactor if the US were to lift all sanctions.
Either way, however, the North Korean proposal failed to satisfy the requirement laid out by Mr Trump prior to the first summit in Singapore last June -- in which the US would discuss the lifting of the economic sanctions on North Korea if Pyongyang would commit to take agreed, verifiable steps to disband its nuclear programme.
So, after eight months and a second summit, there has been no progress in relation to disarmament or the lifting of economic sanctions. Nor was there a friendly -- or even formal -- final handshake at the Hanoi meeting. Mr Trump and Mr Kim used different doors to exit the meeting room. Mr Trump flew home, while Mr Kim began an official two-day visit to Vietnam.
While the words were Mr Trump's, it appeared North Korea would agree that, "Sometimes you have to walk, and this was just one of those times."
Those familiar with Mr Trump's best-selling book The Art of the Deal will recognise this as part of any negotiation. So will shoppers at any Bangkok market or mall. No matter how much someone wants an item, there's an eventual limit for a good bargainer on the price. As Mr Trump stated in his book, "You should never pay too much, even if that means walking away" from an attractive product.
In 73 years, Mr Kim, his father Kim Jong-il, and his grandfather Kim Il-sung, have not changed their bargaining strategy. For decades, North Korea has promised to deliver, but then pulled back. The US, the West and the UN have repeatedly delivered aid and political victories to Pyongyang, while the regime continues to work on its end goal -- a nuclear weapons programme with stockpiles large enough to ensure mutually-assured destruction in the event of an actual war.
We must hope that Mr Trump's goal of setting up a third summit can be achieved. For the moment, both Washington and Pyongyang are issuing statements to show they will never concede. But most likely, someone will.
While the world waits for the next summit in what has been a dramatic series of encounters, no one should lose track of what the two have accomplished. Just a year ago, there was a threat of war in Northeast Asia and beyond. Right now there isn't, even with the walkout.
