Its an interesting theory, but the co-operation between the US and China could be a way forward with China and the US, which are currently at odds, shall we say. The common enemy is radical Islam in both nations and remember: my enemy's enemy is my friend. China has more of a problem as they have a restive region in Xinjiang, which is internal and a larger problem than the US has internally.
The US pitch to Asia was misconstrued by China as containment, which it was not and this may be a good way of moving forward together. The article says the policy is not in alignment, but it's not that critical, our policy on certain things matters may not align with the US but it's a minor difference. I do certainly agree that China should do more to stabilize the world, instead of doing what they currently do.
The Asia Pivot alarmed the Chinese...and as many times as the US reassures the PRC that these moves are not containment, nevertheless, obvious moves have taken place both strategically and diplomatically that have spurred China to take counter-containment efforts, most of them military in nature. And I have no doubt that any diplomatic move we make to reestablish alliances in SE Asia and elsewhere in the Pacific Rim are also being countered by PRC diplomats and intelligence agents. This in my view ratchets up the danger of incidents in the region. That doesn't mean I disagree with your post...I just think the containment/counter-containment issue is a bigger hurdle on any road to cooperation.