Many macro-economists argue that productivity is low in developing countries because of frictions that impede the adoption of modern technologies. I argue that in the retail trade sector, which employs just under twenty percent of the workforce on average, developing countries rationally choose...

A shopping mall in every pocket -- How the West was won -- The rise of e-commerce in China -- The great mall of China -- India: the next mega-market -- India's e-commerce golden era finally arrives -- Southeast Asia -- Latin America -- Africa-the final frontier -- Key takeaways