The spectacular arrest in Canada of the chief financial officer from Chinese telecom giant Huawei follows on the heels of the US punishing another Chinese telecom company, ZTE, earlier this year. The argument is that these companies have violated the US sanctions against Iran. But this is a much deeper conflict and of existential importance for both the US and China and the consequences are far-reaching. How far is the US willing to go to prevent China from becoming a technological great power?