China's economy has flourished in success under communist government, in comparison to the failures of communism in Russia. This is down to several key areas:
Economic Reforms:
- Deng Xiaoping's reforms
- Gradual approach
Political Stability:
- Authoritarian rule
- Strong central government
Resource Management:
- Abundant resources
- Efficient resource allocation
Cultural Factors:
- Work ethic
- Social cohesion
External Factors:
- Global integration
- Favorable geopolitical environment
But, Russian transition from communism resulted in:
- Economic shock therapy
- Political instability
- Resource curse
All successes come at a cost. China's success faces:
- Environmental degradation
- Social inequality
- Human rights abuse claims
- Aging population
- Rising debt levels
- Geopolitical tensions