Andrew Neil: Sino-American cold war will determine 21st century balance of power

The Sino-American cold war is not a trade war, but a technology war, which will be "fundamental" in determining which states will have global dominance in the twenty first century, according to Andrew Neil, broadcaster and political commentator.

Speaking in the closing session at Airmic's conference in Harrogate, he warned that the "technology cold war" is only in its very early phase, and will supersede the presidency of Donald Trump: "It's the new American policy. It's here to stay and we need to get used to it."

Mr Neil noted that China is a rising hegemony, challenging America's global dominance. However, unlike the cold war with Russia, "it is not about ideology", and will be fought via cyber warfare. For US businesses and US allies, there will be "increasing pressure" not to use Chinese technology, as currently being witnessed by the political controversy surrounding Chinese telco company Huawei.

Commenting on Brexit, Mr Neil said that British businesses "can take pride" in the way they have performed in such challenging conditions and "despite immense political dysfunction". He said that the British economy has outperformed expectations, showing "immense resilience."