Tech cold war between US and China can have no winners

The standoff threatens to fragment the world economy and unravel many of the structures underpinning global stability and prosperity, write Andrew Sheng and Xiao Geng

US President Joe Biden talks online with Chinese president Xi Jinping from the White House. Picture: AP/Susan Walsh

US president Joe Biden’s recent executive order restricting investments in Chinese semiconductors, microelectronics, quantum information technology, and artificial intelligence marks another escalation in the Sino-American tech war.

In the context of the two superpowers’ intensifying geopolitical rivalry, the chances that this conflict will be resolved anytime soon are virtually zero, to the detriment of the global economy.