Some foreign analysts call Beijing's rejection of the recent arbitral tribunal ruling in the South China Sea dispute "China's first international test" as an emerging power. Some foreign media wonder whether a resurgent China will uphold the international order. Will fears of a "China threat" now increase?

Underlying all these issues is what China calls its "core interests". What are China's core interests? Do they include the "dotted line" (often called the "Nine-Dash Line"), which defines China's claim of sovereignty in the South China Sea?

These matters are sufficiently serious to warrant a sophisticated understanding of China's position. What are China's claims and arguments? What will happen now?