It's a matter of time before the real and the virtual fold into each other on the wireless Web, says Wonhee Sull, vice president of platform development at SK Telecom.

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For those who think my analogy too facile, check out the research of MIT economist Amy Finkelstein, who has shown that half of the six-fold rise in real per-capita health spending from 1950 to 1990 can be explained by the introduction of Medicare.

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Focusing on those markets should help Wal-Mart get past the mistakes that forced it to fold its tent in South Korea, where poor real estate choices gave it bad locations, and in Germany, where it misread the local norms for shopping hours and labor laws.

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