I have to agree with tompe, most of the arguments you raise have been discussed many many times already. Perhaps you should respond in one of the threads that already exist on the topic.
However your main argument is incredibly flawed. DRM doesn't stop piracy. Are you aware that most popular books and many many not so popular books are already out there to download from the darknet? Even books that haven't been released in electronic form are available. People scan, proofread and upload books for others to download. The Harry Potter books are all available for example.
And what about drm removal tools? They render drm effectively useless. It's incredibly easy to remove the drm on protected pdf, epub and mobi files. If in your example King released his book with drm it would be trivial to remove it and copy it as many times as you wanted. And even if some new form of drm was used that was uncrackable, all that would happen is that someone would scan and proofread a hard copy and upload that.
DRM doesn't stop piracy, all it does is make it difficult for honest customers to make use of their purchases.
Having said all this I'm not even sure if your being serious
Especially given your question on Chinese innovations. I mean seriously? They invented paper, gunpowder, the compass, printing and many many other technological firsts.