Forget the trade war. China wants to win the computing arms race

LAS VEGAS, NV - JANUARY 08: Intel Corp. CEO Brian Krzanich delivers a keynote address at CES 2018 at Park Theater at Monte Carlo Resort and Casino in Las Vegas on January 8, 2018 in Las Vegas, Nevada. CES, the world's largest annual consumer technology trade show, runs from January 9-12 and features about 3,900 exhibitors showing off their latest products and services to more than 170,000 attendees. Ethan Miller/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

As the US and China threaten to impose tariffs on goods from aluminium to wine, the two nations are waging a separate economic battle that could determine who owns the next wave of computing. 

Chinese universities and US technology companies such as International Business Machines Corp and Microsoft Corp are racing to develop quantum computers, a type of processing that’s forecast to be so powerful it can transform how drug-makers, agriculture companies and auto manufacturers discover compounds and materials.