By Varun Laijawalla, emerging markets equity co-portfolio manager at Ninety One For much of the past decade, the US appeared unassailable in technology. Its world-leading universities, deep capital markets and ecosystem of entrepreneurial companies created a durable advantage across software, semiconductors and digital platforms. China, by contrast, was often viewed primarily as a manufacturing power: highly capable, but more dependent on imported technology and foreign intellectual property. That distinction is becoming increasingly outdated. China has developed a technology ecosystem that is broader, deeper and more innovative than many international investors appreciate. From artificial intelligence and advanced manufacturing to electric vehicles,…