, Columnist
China's 5G Bonanza May Leave Investors on Hold
Beijing has other priorities.
Eyes on the prize: this year’s Mobile World Congress in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
State technological, geopolitical and social objectives are the driving force behind what could be China’s biggest-ever telecom merger. Shareholders celebrating the deal might do well to remember that.
Beijing’s motivation is to seek an edge over the U.S. in 5G. The next-generation wireless technology may be 100 times faster than 4G, enabling a revolution in connectivity of everyday objects from refrigerators to traffic lights. It will also pave the way for driverless cars and, some fear, make spying a lot easier.