>>Historically speaking, it may have been the best if the world gave communism a chance to compete, and fail or succeed on its own merits. Instead, as soon as WWI ended, there was a joint effor to conquer the fledgling USSR, which 1) failed, 2) gave them siege mentality for decades to come, and 3) helped prop the militaristic, authoritarian and utterly tyrannic Joseph Dzhugashvili (self-nicknamed Stalin after steel). Had this capitalism's fear of an idea not resulted in an outright war, we may have seen a healthy competition between the systems in terms of human rights, levels of democracy, technology etc, instead of armament race. Seventy years wasted.
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>Communism was tried right here in the US. When Jamestown was founded, it was basically a commune and the people almost died until they decided to give everyone their own plots of land so they could do as they wished (see capitalism). The rest is history, as they say.
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>Communism has never worked. It is inherently flawed at any level beyond theory.

But Communism is a societal theory whereas capitalism is strictly a financial mechanism.
China is apparently attempting to mix both. I've been expecting it to result in revolution, but it may just be that they have strict enough control to let it work for them
"The Party" in China has 68,000,000 members, which is less than 5% of the population and of course it is Party members who reap all the benefits from their current economic 'style'.
I can't tell you how deeply it bothers me that we, through our corporations, are actively promoting their exploitation of their citizens.