Economy Sees a Downturn, but 5G Development Remains Strong
COVID-19 has indeed affected the economy, but 5G-related developments have not stopped. Many major economies in the Asia-Pacific (APAC) region are projected to have negative real Gross Domestic Product (GDP) growth this year. For example, Japan is forecasted by the International Monetary Fund (IMF) to have -5.8% GDP growth this year, with Australia and Japan registering -4.5% and -2.1%, respectively. Emerging economies, however, are forecasted by the IMF to mostly register a contraction instead. For instance, China, APAC’s largest economy, is forecasted to register 1% real GDP growth this year compared to its 6.1% growth in 2019.
Amid this economic slowdown, 5G efforts made by many operators have largely remained unaffected. For example, NTT Docomo commercially launched 5G in March 2020, even in the face of a slow initial 5G adoption of 40,000 customers in its first month. China Telecom has also made plans to spe...
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