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Well China hasn't really been Communism for a long time. They still hold that name for sure. But for those who know they are even more capitalism then you could imagine.

They successfully transmogrified it into state capitalism.

One could argue that real-socialist or "communist" states were actually running capitalism all the time, although a degenerate form where the state was the only monopolist.

I mean, people there work for a wage, someone else extracts the surplus value, people buy the products of their labour on a kind of market with said wage, most people are miserable, those who control the means of production get filthy rich and have a lot of power, and hilarity ensures. This is basically the definition of capitalism according to Marx.

I wouldn't go that far. They've adapted over the years, just like our economy/government has gone from Capitalism to Corporatism.

As equally as we can say Capitalism hasn't panned out either since the banks needed bailing out.

What a bizarre response.

Bizarre response? You should learn to recognize a bit of dry humor when you see it.