AP Photo

It’s been easy of late to get hyperbolic about the chance of conflict in East Asia. China appears to be the first serious military challenger America has had since the Soviet Union, and it is clearly beginning to throw its weight around in the waters of Asia. Especially raising tensions in the region is a passel of territorial disputes over islets that has pitted China against countries in southeast and northeast Asia and put Japan at odds with all its major neighbors. But the one key disagreement is between Japan and China in the East China Sea. There, an archipelago called the Senkaku Islands is claimed by Japan, Taiwan, and China. The islands sit near rich undersea oil and gas deposits, but, being situated just northeast of Taiwan, they also are in a crucial strategic...