What prospects for a “new kind of great power relations” between China and America?

Recently Chinese leadership has been promoting a “new kind of great power relations.” How likely is it that China and America can find a new type of power relations and can this kind of power relationship be held to a path of no conflict, no confrontation, mutual respect, and mutual benefit? The Chinese terminology of “new kind of major power relations” is an attempt to bridge the gaps between rhetoric and behavior, between perceptions and intentions, between the status quo and change. The US has responded with a “new model of cooperation.” Moving forward, caution should still temper optimism.