Just a decade ago, China's rise — accomplished on the back of globalization — was welcomed by most of the world. That has changed over the past five years, especially in the realm of technology.

Now, China and the US, the world's two largest economies, are fighting what many are calling a "new Cold War" on tech, Eurasia Group President Ian Bremmer said during the panel discussion on geotech at the 2020 GZERO Summit in Japan.

Bremmer believes that this conflict won't end globalization but it is a confrontation that could dramatically change the trajectory of globalization as many countries are forced to pick sides on issues like artificial intelligence, data, or 5G.