This paper argues that the peaceful transition from the Cold War to the post-Cold War period has led to a state of minimal peace in Northeast Asia. This is due to three realist-liberal factors: America’s hegemonic role, strong economic interdependence, and a stable institutional structure. These factors not only ensured development and prosperity, but also mitigated the negative effects of political and strategic tensions between the Northeast Asian states. This minimal peace is in danger of unravelling from 2010 due to the worsening Sino-US competition/rivalry. However, this paper argues that the sub-region’s minimal peace will hold in the coming decades. The organising ideas of liberal internationalism – economic interdependence and institutional building – will remain resilient. Though weakened, the American hegemony will remain a determining factor for stability and it will be supported by the increasing influence of secondary powers on the regional order.