The United States is locked in a long-term strategic competition with China to shape the rapidly evolving global technological land­ scape. Innovation in emerging technologies could transform society, create new industries, foster new dependencies, and alter the char­ acter of warfare. Whichever country secures a lead in key technol­ ogies—particularly those with first mover advantages—will tip the balance of power in its favor and reap economic benefits far into the 21st century. China under General Secretary of the Chinese Commu­ nist Party (CCP) Xi Jinping has recognized the potential advantages of seizing the innovation “high ground” in this competition and has aggressively designed, implemented, and funded programs to domi­ nate technologies of the future. In doing so, Beijing hopes its efforts will underpin national rejuvenation, making the country powerful, self-sufficient, and impervious to perceived technological “contain­ ment” from the United States and its allies and partners. China has focused on developing emerging technologies such as artificial intelligence (AI), quantum technologies, biotechnology, and battery energy storage systems. The United States has similarly realized the importance of technology competition with China and has sig­ nificantly altered the policy environment around key technologies, particularly semiconductors, advanced computing, and clean energy. China faces many challenges, including these U.S. policies, a falter­ ing domestic economy, and inefficiencies inherent in its state-direct­ ed innovation system. However, if China manages to overcome these challenges, its rapid technological progress threatens U.S. economic and military leadership and may erode deterrence and stability in the Pacific, as well as tip the global balance of power.