This article analyzes security dilemma on the Korean Peninsula and the prospect of the relationship between China and the Korean Peninsula from the perspective of the complementary effect of Community of common destiny and public goods and how China could provide the world with international public goods. Nowadays, the power structure on the Korean Peninsula has undergone serious changes and this creates great instability on regional security order. This instability mainly results from the reality that China and the United States can not meet demands of regional public goods. However, compared with the deterioration of the geopolitical environment on the Korean Peninsula, the positive role of geo-economy is also deepening. Geo economy can defuse geopolitical pressure and propose the solution to the security dilemma by exploring the road of cooperation and win-win situation. The core point of this blue print is that we should look for the way of thinking to realize two track parallel under the principle of separation of economy and politics. If China want to strive for the global leadership, she should set up stable alliance system. For that, China needs to make the surrounding countries feel China's tolerant foreign relations in terms of security and economic benefits.