There are two aspects of the emerging 5G industry in which international geopolitics threaten to make the business case even tougher for operators than expected. One is the race to be ‘first to 5G’, which is pressurizing some MNOs to launch 5G services before they have a credible ROI (return on investment) plan. The other is the escalating tension between China and the USA over cybersecurity allegations and trade wars. This is starting to prompt copycat behavior from US allies, threatening operators with the prospect of being barred from buying 5G equipment from Chinese vendors – which, in turn, will reduce price competition and deny them the ability to use some of the most advanced 5G technologies, where these are…