China may have “little to lose” from talks between the United States and North Korea which, analysts say, may lead to Washington watering down its security commitments. US President Donald Trump has already ordered the Pentagon to “substantially reduce” the scale of the annual Ulchi Freedom Shield exercise with South Korea, criticising the exercise for both its cost and for sending “totally inappropriate and hostile” signals to Pyongyang. Citing his “very good relationship” with North Korean...