What Should Google do in China?

Google doesn't have the Play Store in China due to bad relations with the government. The whole issue is over censorship. But it's costing Google in more ways than one. In addition to missing out on revenue, it makes many turn toward piracy and make Android look less lucrative for developers. It also fragments the platform because Chinese OEMs are turning to third party app stores for content in lieu of Google.

Given these losses, shouldn't Google accept censorship as the cost of doing business in China, for the benefit of the Android platform? Every other company does so and Google is at a huge disadvantage.