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China is winning the 5G race

Huawei's 5G-focused booth at the 2018 Mobile World Congress in Barcelona, Spain. Photo: Xinhua/Guo Qiuda via Getty Images.

There's a race to 5G and the U.S. is not winning — China and South Korea are, according to a report conducted by research firm Analysys Mason and released today by CTIA, the wireless industry association.

Why it matters: The first country to deploy and commercialize the ultra-fast 5G mobile networks will have an enormous economic advantage— $500 billion in GDP and 3 million U.S. jobs, per a 2017 Accenture study.