THURSDAY, March 28, 2024
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If mismanaged, 5G tech ‘will increase economic inequality’

If mismanaged, 5G tech ‘will increase economic inequality’

Fifth-generation (5G) technology will help improve the global economy in enormous ways, but improper management and operation could increase economic inequality in the world, Anusorn Tamajai, the director of the Economic and Business Research Centre for Reform at Rangsit University’s Institute of Economics, said.

“IHS Markit, the information company, estimated that 5G would help create value of around US$12.3 trillion [Bt384.45 trillion] for economies and businesses in 2035, as well as create 22 million jobs around the world,” he said.
“However, the estimated value would be possible if the technology was used globally,” Anusorn said. “The obstacle to this possibility is the inequality in technological development and access.”
The benefit Thailand would earn in 2035 from 5G auctioning, investment and services would be around Bt2.3 trillion, he said.
Investment in 2020 and 2021 is estimated to be at least Bt200 billion to Bt300 billion, while the technology would have a positive impact on such fields as medicine, communications, industry and lifestyles in the next two to three years.
“To operate 5G services with no practical plan or strategy would increase economic inequality, creating a negative impact on businesses that cannot adjust. Moreover, unemployment will rise for those who have no skills related to 5G,” Anusorn warned.
He also said that 5G and other technological advancements in the future would cause centralisation. 
“The administration must decentralise its power and increase democratic principles in economic and political matters in order to improve the economy and people’s lives,” he said.
5G licences should be limited, otherwise problems would arise as happened with the digital TV business, with entrepreneurs having to return their licences and claiming compensation, Anusorn added.

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