Microsoft’s President Brad Smith cautioned against underestimating China’s tech progress, emphasizing at the Web Summit in Lisbon that China is approaching or catching up with the U.S. in some areas. Smith highlighted that U.S. and Chinese firms will remain competitive for the foreseeable future, urging Western collaboration to drive global economic and tech advancements. Microsoft, active in China since 1992, maintains a significant local R&D presence. Smith noted that tech exports depend on approvals from Chinese and U.S. governments.