(BLOOMBERG) - The election of Mr Joe Biden as US president will not end the US-China trade war. Mr Biden has already vowed to keep outgoing President Donald Trump's tariffs as leverage for negotiations. That signals the dawn of a permanent new era of economic competition between the two superpowers.

But beyond the flashy, headline-grabbing issue of tariffs and trade deals, there's another, more important economic struggle being waged - the battle to control technology industries.