The whole world has experienced a roller coaster over the past couple days as abrupt ups and downs once again churned the Korean Peninsula, where the light of peace at the end of the tunnel might still seem faint but hopeful.

The summit between US President Donald Trump and North Korea's leader Kim Jong-un is back on track after intense diplomatic engagement after some dramatic turns. 

Trump's cancellation of the summit with Kim raised fears of destabilization. The off-again on-again meeting could be his strategy to put pressure on North Korea to do a "complete denuclearization". Experts have warned that Trump should avoid using the "cancellation trick" as a lever to gamble with peace on the Korean Peninsula.

Different from the past, North Korea has shown its restraint towards the recent dramatic twists and turns. The North's response to the "summit cancellation" was conciliatory enough. An official statement expressed the North's willingness to sit down with the US side. 

Moon Jae-in and Kim's summit last Saturday shows the positive attitude of the two Koreas. The South Korean president has tried hard to mediate the US-North Korea summit. With South Korea being the direct beneficiary of the denuclearization of the peninsula, Moon has played as go-between as he splits his time between Trump and Kim, urging both sides to preserve and highlight the positive aspects to the furthest extent. 

China also plays a crucial role in helping establish a peaceful mechanism on the Korean Peninsula. As one of the relevant parties of the nuclear issue on the peninsula, China is slated to play a constructive role in bringing about a settlement of the issue. 

There is a trust deficit between the US and North Korea on the issues related to the peninsula. China is committed to realize the goal of denuclearization through peaceful means by way of dialogue and negotiation. 

The process of North Korea's denuclearization has tormented the nerves of all parties. So far, the restraint of Pyongyang, the flexibility of Washington, as well as the mediation efforts of third parties have sent a signal of their collective commitment to move forward in the cause of peace on the Korean Peninsula.

The latest news is that Trump has confirmed that top DPRK officials are headed to New York to discuss the summit. And Moon may join the leaders in Singapore for a three-way summit. If the June 12 summit occurs, there will be a good chance of positive results. 

Admittedly, there are more than two weeks left before the big date, so no one can guarantee that the meeting won't be disrupted again. One thing's for sure:  that no matter whether the Nobel Peace Prize is under Trump's consideration, the peace and stability on the Korean Peninsula serves the fundamental interests of all parties.