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Thirty years ago, I read William Greider's book "One World Ready or Not" that presciently described many of the consequences that trade with China would entail. One of his primary concerns was that the Chinese government could skim many of the profits that the West allowed corporations to skim. The net result was that they enriched the state while we enriched the wealthy. China built infrastructure (like high-speed rail) while billionaires bought yachts and helicopters and politicians.