SAN FRANCISCO — When Silicon Valley looks west to China, it sees many things. More than a billion hungry consumers. A cheap source of labor. A competitor, partner, supplier and security risk.

Now add this: A foe bent on retaliation.

The Chinese government said Friday that it was putting together an “unreliable entities list,” a counterattack against the United States for denying important technology to Chinese companies. No companies were named or details given, but tech firms seemed all but assured of being a prime target.

As the economic relationship between the two countries frays at warp speed, the much-anticipated tech cold war is escalating.

“If China continues to push back, and we continue to push back, there will soon be dual technology standards,” said Rebecca Fannin, author of the coming book “Tech Titans of China.” “Prices will probably rise for components, which companies will pass along to consumers. But both sides will strengthen their innovation edge, and that helps the global economy.”