Free market

China was a poor country for thousands of years as it was a daily struggle for people to feed themselves. At the end of WW 2 China became embroiled in a civil war and in 1949 the communist government headed by Mao ruled until his death in 1976. China's GDP under Mao held steady at $50 billion and during this time about 60 million people died from starvation. In 1978 China opened up to a free market economy and the country came alive. By 2000 the GDP had increased to $1,200 billion at which time China was allowed into the World Trade Organization. After that the GDP increased rapidly to $18,000 billion today. This was the result of globalization and brought 800 million Chinese out of poverty. Once again the world witnessed the miracle of the free market as opposed to the central government planning under communism. The same thing happened in India, Vietnam, South Korea and East Germany. Meanwhile the remaining communist economic systems in North Korea and Cuba continued to struggle even to this day. In spite of this there are people who think that communism will bring equality and the latest attempt was Venezuela which is now a basket case. It is so enticing to gain power by promising to take from the rich and give to the poor.