Are we on the verge of a new tech cold war?

Commentators have leaped to proclaim a new “cold war” between the West – led by the US - and China, with the technology sector at the heart of this 21st century geopolitical conflict. Both powers are attempting to secure superiority in the cutting-edge industries of the future, while denying each other access to their respective markets and technologies. This is leading to what is being dubbed the “great decoupling”, with the formation of two separate ecosystems consisting of separate supply chains and tech platforms.

Our panel discussed the following questions:

• To what extent is decoupling already taking place, and to what extent is it likely to take place in the future? Is there an element of hyperbole in proclamations of a new “tech cold war”? 
• Where will the UK lean? Having left the EU will the UK government ally itself with the US administration and US tech, risking retaliation from the Chinese state and a loss of access to Chinese investment and Chinese markets? 
• Or should it instead align with the approach being pursued by Brussels, seeking “technological sovereignty” and “strategic autonomy” from both superpowers? 
• How will a Biden presidency change this calculus? Might it lead to greater convergence between the US and EU positions, and how would this affect the UK? 

Speakers for the event included:

• Lord Maude, former UK Minister for Trade and Investment, co-founder and chairman of Francis Maude Associates Partners
• Benedict Evans, independent analyst of mobile, digital and technology trends, venture partner at Mosaic Ventures and - Entrepreneur First 
• Eileen Burbidge, Partner at Passion Capital, former chair of Tech Nation

The discussion was chaired by Benjamin Wegg-Prosser, the co-founder and managing director of Global Counsel.