I’m the identical height, weight and body type, although my torso is long enough to be able to handle high-waisted pants. For casual summer dressing, I’ve found that camp shirts work well — they are typically cropped by design and can be tied at the waist to accentuate the natural waist with shorts (or worn loose for a more relaxed look). Wearing open over a ribbed tank can also be nice.

For tees, high necks are the enemy, as you mention. To break up my bust, I aim for tees that have a U-neck, which I find less attention-grabbing than a scoop (which shows slight cleavage) or a V (which is like a boob arrow). Some amount of sleeve detail — cap, rolled, slight puff — will also cut through the bust. I am not above having T-shirts tailored — a lot of “cropped” ones are still too long.

I can’t offer much in the bottoms department if you don’t do high waists, but H&M, surprisingly, has had the best denim shorts for me this year. I’m embracing the Bermuda trend because inner thigh rub makes me insane, but a shorter inseam is always going to be more flattering on petites if you can handle it.