Its excellence in the computer chip market puts it at the center of the battle for global technological supremacy.

Mr. Sharma is the chief global strategist at Morgan Stanley Investment Management and the author of “The Ten Rules of Successful Nations.”

The Cold War between the United States and the Soviet Union perpetually threatened to spark conflict in nations all over the world, including battles over the control of a vast array of natural and industrial resources. The new Cold War, between the United States and China, is increasingly focused on access to just one industry in one place: computer chips made in Taiwan.