When the Trump administration blacklisted Huawei Technologies Co. in 2019 over spying concerns, the move almost wiped out the Chinese company’s global smartphone business. Yet the company bounced back with the support of China’s government, and it’s now at the center of national efforts to achieve technological independence from the West. The remarkable comeback raises questions about whether US efforts to contain China’s geopolitical ascent have been effective or adequate, and which of the two superpowers will come to dominate in areas such as semiconductor design and artificial intelligence.

1. Why does the US have an issue with Huawei? …