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Throughout history, slavery was based on captors versus captives. Once it was found that Africa was a "good" source of cheap slaves, the association between skin color and inferiority/superiority really took off. It started to happen before the 19th century.
As for real racial differences, skin color isn't a racial trait, it's a regional trait, and the only real differences are bone formation and molar structure. There are 4 distinct races. Much of what we call racism is really extreme ethnocentrism.
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