The US and China are caught in a technological arms race, with companies on both sides investing heavily in cutting-edge solutions. Whichever superpower comes out on top could dominate the global economy for decades to come. Although the casual consumer in the West may not have heard much about Chinese businesses Baidu, Alibaba or Tencent (BATs), the Silicon Valley heavyweights of Facebook, Amazon, Apple, Netflix and Google (FAANGs) are certainly aware of them. Often categorised as FAANGs versus BATs, the battle for tech supremacy between the US and China will have ramifications that extend far beyond the businesses that are directly involved. The winner will not simply claim the economic spoils, but the ideological ones, too.
Read more: The New Economy