At Bloomberg's New Economy Forum in Beijing, participants have expressed their concerns that unilateralism and protectionism may hamper innovation.  

They say the ongoing trade friction between China and the U.S. threatens the tech world, creating barriers to talent, capital and know-how that may induce an innovation winter. 

Gary Dickerson, president and CEO of Applied Materials, said it has "never been so important for collaboration." 

Delegates warn that going back to the dark ages without global standards would derail economic growth. 

Yang Yuanqing, chairman and CEO of Lenovo Group, said, "It is neither wise nor realizable to segregate technologies or supply chains. Technologies are meant to serve all of humanity. This is not just morally right but also economically feasible."