Any pact that is not based on trust and is poisoned by suspicion won't work. Rejection means that we have taken the path of isolation or maybe neutrality ala Switzerland or Sweden, except that these countries have the military capability to shoot down at least some intruding tanks, ships or aircraft. When incidents erupt in the South China Sea involving our territorial claims, we can stick to our neutrality but let's not ask our allies to come to our aid we won't even allow them access to our facilities to give them scope to respond to emergencies. When more structures are built on disputed islets, there certainly is a diminution of national territorial sovereignty. In modern alliances, economic or security, there's no such thing as absolute sovereignty.
International agreements involve shedding some sovereignty in exchange for some gains.
When nationalists talk with vehemence about sovereignty as an absolute value, they seem to be conjuring up phantoms of 19th century and early 20th century nation-state nationalism.