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How does China's model of communism and socialism differ from past attempts and how does it avoid the errors of the past?

Simply, freedom of commerce is a key element of Chinese successful communism. Commerce is encouraged and accepted. Poverty is medicated by commerce. Socialist market economy simply encourages markets, enterprise and commerce. The communism is not about ending money, curtailing wealth or controlling production, instead it is exactly the opposite. China is the largest buyer and seller in the world, yet no one can argue that it is not communist or not meeting communist values. Embraced as tools for growth; "letting some get rich"., Poverty alleviation and modernization.

The implementation of socialism is the use of taxation for universal services and dealing with corruption, which is the usual cause of the failure of socialism. Relatively low taxation funds the usual social services and virtually no debt show that competent management is key. China's tax burden is lower than most developed (OECD) nations but similar to or slightly above many emerging Asian economies. It is notably lower than the US.