Don't Cry for China?

The argument goes that albeit financial woes that almost bring mayhem to the world, globalization lifted hundreds of millions of people in the third world from poverty.
But at what price?
When the tradition of austerity & modesty is displaced by a lifestyle of instant gratification that capitalism engenders, long term destitution takes hold!
Destruction of the environment, widening of social disparity, break down of ethical & moral values, cultural decadence,… and the blurring of distinction between man and beast, such as what one is witnessing in China, are just some of the humongous costs of globalization.
Is there any sense of fairness, when a 100 dollar worth of goods and services (such as computer software) is sold, 90% of the income goes to conglomerates of the first world, while a mere 10% is left to compensate the resources and labor expanded at a third world manufacturing/servicing hub?
Globalization is naked exploitation under the disguise of free trade and free access!
After half a century of brutal assault by Mao and his cohorts on the culture, and its finest and brightest men and women, China may just be too feeble to resist the new round of social economical infringement! Too bad!