Why the race to 5G is a bet on a multi-trillion dollar economic impact

Oct 10, 2018

The next generation of wireless technology, 5G, could be a huge deal. The speed and the number of devices that can be connected could spawn new businesses we haven't even thought of yet. Last year chipmaker Qualcomm and tech research firm IHS Technology put out a report that said 5G could enable $12 trillion in economic output across the world by 2035 and add some 22 million jobs. The report compared 5G to electricity. Compare that to 4G, which, just in the U.S., contributed about half a trillion dollars to the economy in 2016. And even a whiff  of that potential is why there's a race to get to 5G first between companies and even countries. Molly talks with Scott Tong, Marketplace reporter and former China correspondent. He says the U.S. won the race to 4G, and China doesn't want that to happen again. (10/10/18)