New structure should be built, says economist

China and the United States need to build a new strategic partnership instead of being embroiled in a trade war, according to a leading US economist.

Stephen Roach, senior fellow at Yale University's Jackson Institute for Global Affairs, believes it is important for the world's two largest economies to work together and not be rivals in a new Cold War - this time one based on economics.

"Both the US and China should look to build a strategic partnership, and it is time to go back to the drawing board and come up with a new structure for the relationship," he said.