That is the topic of my latest Bloomberg column, they chose a nice photo. Here is an excerpt:
If North Korea and the U.S. simply talk, and nothing comes of it, that raises the status of Kim Jong Un, who then would keep improving his missiles anyway. So if the U.S. goes ahead with the talks, you might rationally infer that the risk of war has gone up. Furthermore, there is the risk that Trump or Kim could feel humiliated by a summit that yielded nothing, again raising the chance of war or miscalculation leading to disaster.
In chess there is a concept known as “zugzwang,” or “compulsion to move.” It’s used to describe the position of a player with no good options who would prefer to do nothing at all. That’s not a possibility in chess, so the unfortunate player faces a situation in which all roads involve a deterioration of his position.
There is much more at the link, only one scenario being even somewhat optimistic.