Thanks for the idea, but the "Hassett-Ghilarducci White Paper" is about expanding a TSP-like savings vehicle to low income. I see nothing about China in it.

There's a thread that better relates to that paper here:

Question is, if someone is "low-income", how are they going to be able to contribute to a 401k to begin with? The answer - you guessed it, just print money. I'm sure rangerray is going to love that proposition.

Many of the plan’s would-be beneficiaries pay little in federal income taxes today, so the cost in foregone taxes is smaller than one might think. The government match does cost more, but the government currently borrows at close to a zero percent interest rate, money which would be given to workers to invest in private capital that has a higher return.