As one of the world's biggest tech giants, Huawei has made great advancement in 5G technology. But the world's progress towards a 5G future might be hindered as the US administration's ban on Chinese tech giant Huawei takes effect. Our reporter Yang Chengxi explains why the repercussions of this ban might be more serious than most people think.

This is the Hongqiao train station in Shanghai, one of the busiest in China. Usually, in a packed place like this, or at a concert or other crowded venue, people worry about weak signals. But that concern will be a thing of the past when this station is covered by 5G in the future. The new network allows for up to a million mobile connections within one single square kilometer.

YANG CHENGXI SHANGHAI "Also, it is fast, it's really fast. For those who are curious, here's a trending video of just how fast 5G could be on your phone. By 2025, half of the US and a quarter of China's mobile connections will be made through 5G. It is the next big thing and this is where it gets complicated. We need to talk about the H word -- Huawei. Millions of people around the globe have learned how to pronounce this curiously-spelled Chinese brand in recent weeks. But unfortunately, many got to know about it from news clips like this."

TOM COTTON US SENATOR FOR ARKANSAS "I hope all of you in the gallery are not using a Huawei or a ZTE product. If you are, you might wanna buy a different one. These companies are dangerous to our national security and your privacy."

YANG CHENGXI SHANGHAI "With that amount of distrust from western countries, Huawei had offered the source codes of their product for thorough inspections by government agencies from countries such as Great Britain, Germany and Canada since 2012. And to this day, there has been NO evidence of any back door used for spying. And what Huawei needs to do is to work closely with suppliers and regulators. That's not happening with America, at least for now."

ANDY PURDY CHIEF SECURITY OFFICER, HUAWEI TECHNOLOGIES USA "We need to take these measures to develop a new uniform cyber security standards. Use these mechanisms to assess risks objectively and based on evidence. So that we can have conformance programs that we can prove our products are worthy of trust. That's how we address the risk. That's how we are all safer in cyberspace."

YANG CHENGXI SHANGHAI "Now, with the Huawei ban continuing, collateral damage is beginning to surface. The company's equipment has been used in the U.S. for years. Huawei supplies technology to about 40 small carriers across rural America. Replacing that could cost hundreds of millions of dollars, and farmers might be facing the danger of losing their mobile service, which they rely on every day to monitor their environment."

MIKE KILGORE, CEO NEMONT TELEPHONE COOPERATIVE "Nobody in their right mind would shut down a network and shut down public safety. Sometimes I equate it to flying in a jet with two engines. And you want to replace one of the engines at 30,000 feet. Probably not a good idea."

YANG CHENGXI SHANGHAI "That's not to mention that Huawei has been a big buyer of American products. The company spent 70 billion USD to purchase parts in 2018, and 11 billion of them came from the US."

Analysts say the costs will likely be passed down to ordinary consumers.

YANG CHENGXI SHANGHAI "So if the current American administration's mentality is Huawei, no way, the people are losing out on more than just a smart phone."