In a series of war games in the seas and skies around Taiwan last month, China deployed some of its newest strike aircraft, warships and missile forces. However, one of the most menacing weapons used in the drills: an updated version of a bomber that first flew in the early years of the Cold War.

Unlike the military and ideological confrontation stemming from the Cold War of the 20th century, today's rivalry between the US and China points to issues surrounding technology and trade in key global sectors.