SM. China has not ditched socialism, a very different animal from communism, but rather, embraced it and a free market economy and a new Emperor. Other socialist countries like Sweden, Norway, Finland and our near neighbour Singapore. Prove, that like tiny resource poor Singapore. Socialism has a place and been a virtual saviour for the tiger economies, rather than the problem many blinkered conservatives see? If one doesn't want to see it gain further footholds and that's in play, then the only solution in prospect for private enterprise, free market economies, is co-operative capitalism. What China, unlike every other socialist economy, failed to also embrace, is democracy and the concept of private property! Alan B.

AB,

Socialism:
noun
a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.

China's economic success has hinged upon rejecting socialism as defined above by giving land to farmers, allowing entrepreneurs to build own and profit from businesses etc.

Yes SM. Understand the concept and not for profit service models, like member's own health insurance and credit unions etc. Tiny Singapore owns an airline a telco and the oil refineries producing the most significant part of our imported fuel requirements etc. Yet like all sanely led socialist democracies allow private enterprise and freehold tenure. In a communist country all is owned by the state and operated by this or that appointed collective, which often have quotas that must be met! And needs a certain amount of slavery to survive as economic models. Even so, we have communes and collectives in the west along with the most successful economic model of all time the co-op. Free and fair elections and or their lack, all that separates the socialist democracies and China, which we don't have a problem with! Given they are the biggest source of our export incomes. If we were fair dinkum in our condemnation. why do we trade with them and in so doing, help them to grow both their economy and military might! Alan B.

AB,

40yrs ago China was fully socialist with all means of production owned and controlled by the state. Today it is partially socialist, and its economic success is due to its large scale abandonment of socialism.

Capitalism does not exclude a state providing public goods that are essential but difficult to profit from such as policing, defense, public schooling, basic health care, national parks, etc

When states start expanding into providing non-public goods is when things go badly.

PS Co-ops are successfully under certain circumstances but are far from the most successful production model.