Skip to main content

Steve Forbes says winning the 5G race is ‘critical’ for the US

Publishing executive Steve Forbes.
(Image credit: Gage Skidmore)

American publishing executive and editor of Forbes Magazine, Steve Forbes, has said that the US needs to win the 5G race to keep the American economy growing.

“Critical for keeping the American economy strong and growing in the new decade is our winning the race to 5G,” Forbes wrote in a post for Fox Business. “And Federal Communications Commission Chairman Ajit Pai can ensure we get off to a quick start in that competition by taking swift action to repurpose the portion of wireless spectrum called the C-Band.”

“Before the C-Band can be utilized for 5G in the U.S., however, it must be transferred to wireless providers from the satellite companies who currently control it.”

Steve Forbes.

Forbes’ statements put particular focus on the issue of spectrum availability in the US. A major obstacle to 5G deployment thus far has been the lack of sufficient spectrum being made available for wireless use through government auctions by the FCC. This means there is a big section of midband spectrum, known as the C-Band, which would be perfect for 5G development in the United States. But it requires the government to act, says Forbes. 

“The Global mobile Suppliers Association (GSA) has identified 23 countries that have already “auctioned or allocated C-Band spectrum, with the intention of opening up the frequency range for mobile broadband and 5G usage,” writes Forbes. “Before the C-Band can be utilized for 5G in the U.S., however, it must be transferred to wireless providers from the satellite companies who currently control it.”

Unleash the vast potential

Steve Forbes has also noted that American wireless providers are facing stiff competition from China’s Huawei, which has been heavily backed by its government to the tune of $75 billion, if reports are to be believed. And the fact that the US government has banned the supplier has made it “more difficult to roll-out 5G networks quickly”, Forbes says. 

Forbes concluded by saying that the US could succeed if the government moved quickly, and gave businesses the tools they need to succeed in the 5G era.

“Public officials must once again unleash the vast potential of the U.S. to meet these challenges and equip businesses with the 21st Century tools they need to compete and win,” Forbes said. “Foremost among those tools is 5G wireless, and FCC chairman Pai and his commissioners must make its deployment and implementation their top priority,” he concluded.

Fiona discovered her love for investing and making money from a young age. Since then this interest has grown and now she loves writing about investing and business, and follows the 5G market closely. She is also a technology enthusiast, and so they tend to be her favourite investments.