The video seems trustworthy. The former Chinese finance minister mentioned at end of 2020, USD230 billion spent on 5G. If he has reservations about the investments in 5G, then it must be true - almost a scam.
The real problem probably is a mixture of corruption and ignorance about technology. Those politicians who approved of policy have no knowledge of 5G and their advisors have agenda - not really all "for the benefit of the country".
There are many other such useless investments in China:
1) Their biggest radio telescope - they can't even find a "qualified" local Chinese physicists to be its head.
2) Their fusion "artificial sun" - just nonsense! The scientists wants only funding and more fundings.
3) huge underground facilities to track "neutrinos", the Ghost particles. Only Zhong Kwui could catch those Ghost particles!
4) They(also IBM,Google) claimed to have succeeded in "quantum computers" when they can't even use it to add "2+2"! I can called my Intel I5 a "quantum computer" - it does whatever their quantum computers could do including adding (2 +2)! Quantum computing is a global scam.
And their particle physicists lead by Wang Yifang have been lobbying the Chinese government to build the biggest particle collider, bigger than the current Large Hadron Collider (LHC) to make China number one in...etc
"Einstein's E=mc² Is Invalid"
Chan Rasjid Kah Chew,
Singapore.
http://www.emc2fails.com