U.S. Faces 20-Year Techno War With China

A legendary Silicon Valley venture capitalist says the U.S. is in a long-term conflict with China to dominate technology and innovation.

The relationship between the United States and China has often been most fraught when the two nations are squabbling over their respective business interests.

In several cases over the last decade or so, both countries have used sanctions and tariffs to curb the other's business edge in the region. 

The Chinese have often had a flexible approach to what they consider to be intellectual property.

Some recent studies estimate that Chinese hackers alone have siphoned off trillions of dollars worth of proprietary information from 30 multinational corporations doing business in the country.

"We're talking about blueprint diagrams of fighter jets, helicopters, and missiles," Cybereason CEO Lior Div told CBS News. "We saw them stealing IP of drugs around diabetes, obesity, depression." 

One prominent example of the conflict was an attempt by former President Donald Trump to ban popular Chinese social media platform TikTok in 2020. 

That decision was quickly reversed by the administration of President Joe Biden, but it illustrates perhaps the thorniest part of the Sino-American relationship.