None of this reduces the problem that the US and to a lesser extent what other Western Economies are facing.
China is rapidly becoming the high tech manufacturing centre of the globe and is has already started to decimate manufacturing in the West. Many take comfort in the fact that it our companies doing it over there. This maybe true to some extent, but there is a massive level of technilogical transfer going on, and the proportion of good that comes from indigenous companies is growing rapidly. Organic growth and reverse take-overs will see the Chinese control an ever greater share of the action.
The real threat though is not from China. The lions share of investment from US high tech firms is actually going to India. What China is doing to your manufacturing today, India will be doing to your Service Sectors tomorrow. Yes, at the moment a lot of it is about offshoring Call Centres and the like. However, that is just the start.
The World Order is changing, and the dominance of the US is not just under threat, it is coming to a close. Those that recognise the changes can limit the damage.
The big players including your Mr Gates are already moving to mitigate the damage, to their own companies. Their loyalties are to their corporate entities, not the US or its citizens. Beware of this distinction. Under the British Empire, the ordinary people of Great Britian were often treated almost as badly as those in the colonies. Do not expect the Walmarts of this World to treat you more fairly because you come from the US. If they could get away with paying you 17 cents for the hours, that is what you would be getting.
Very large structural changes to World economy are already taking shape. Those that are not prepared to recognise these changes will not be positioned to mitigate the damage.