> Just stop requiring growth at all costs, chalk up the China (and military) market as a loss, and continue operating at your massively profitable status quo.

This is what Google did initially; instead of censoring themselves like the Chinese government demanded, they opted to leave the Chinese market entirely.

But that's almost ten years ago now; meanwhile, the Chinese economy / GDP has doubled, its connected population has more than doubled, and Chinese internet companies have entrenched themselves. China will - if it isn't already - be the biggest potential market for internet companies.