No one nation, whether America or China, can rule Asia
Simon Tay says more are seeing China, rather than the US, in that role

At their California summit, President Xi Jinping and his US counterpart Barack Obama discussed a long list of disputes, from trade to climate change and cyberhacking. Both were anxious to get along and there will be only small steps forward. The key point to come out of the meeting is rapport.
The unresolved question of Asia-Pacific relations hovered in the background. Xi touched on this by saying that "the vast Pacific Ocean has enough space" for both countries. Underlying this was Chinese resentment about the US "pivot" to Asia.
Many in Beijing see it as a thinly disguised attempt to encircle China. Addressing the fundamental issue of accommodating a rising China must wait for another occasion.
Asian nations like the Philippines and Vietnam have welcomed the US rebalancing, given that China has grown more assertive recently about its claims over the South China Sea. Similarly, tensions over disputed islands further north have prompted Japan to embrace its alliance with the US.