The United States and China are engaged in a new space race, this time focused on developing space as a platform for computing. This competition echoes the historical space race initiated by the Soviet Union.

In 1957, the Soviet Union kicked off the Cold War’s space race, shocking the world by sending Sputnik, the world’s first artificial satellite, into orbit. Four years later, it did the same to cosmonaut Yuri Gagarin, making him the first human in space. In 1969, the US provided another image that defined the era: Neil Armstrong leaving the Eagle lunar lander and planting the American flag on the moon, declaring it “one small step for man, one giant leap for mankind.” For the two superpowers, the....