There are better words for a conflict that's not currently active warfare. The US and China can disagree and take action that isn't mutually beneficial without it being a war. How we talk about things reflects how we think about them and limits the solutions we consider.
None of which changes the fact that there is a war. Not only are the two nations still involved on opposite sides of the Korean War, which has never concluded, but China routinely scrambled fighters and bombers to harass U.S. ships in international waters.
There is no economic tie between US/Soviet and nothing happens. 40 years of trade with China had propelled China to the number 2 economy in the world while sacked American manufacturing some projected China will surpass US in the near future. middle class American suffered and they voted Trump. is gig economy all that's left for middle class? while rich get even more rich from US/China trade.
Economic isolation would mean war.