You should try to get a job at FOX news, you sound like Tucker Carlson, distorting the truth and spreading disinformation.
There was no capitalism in China before 1980, and no capitalism in Russia before 1992, the communist governments in both countries owned everything.
What is your text book definition of capitalism, because it sounds different from the one I've read.
CAPITALISM ~ noun ~ an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
How am I distorting truth? I everyone already knows the dictionary definition of capitalism you posted above, that defines what the theory is - which is different from what the reality is, which is that the state controls how much foreign trade is allowed into the country and how much international business is connected as well, they do that in all countries no matter if they say their communist or not.
That's my point, a communist/socialist country can still be a modern superpower like many European countries with 50% taxes etc they still can compete in the global market - has nothing to do whether they are communist/socialist.
Trying to tell you I don't care for textbook definitions because they are misleading, and that I agree with the video you posted in your capitalism thread that explains capitalism is a tool already being used everywhere from the beginning of time - not a ideological classification that defines governments or ideologies.
What you say there was no capitalism in China or Russia before those dates that's simply not true because even in the communist times people owned there own private businesses - the communist dictatorships in those countries cherry picked which business they would take over and still let people do business for themselves, also it is impossible to control every capitalism everywhere that is why black markets exits everywhere.
The dictatorships in those countries used the ideological propaganda of communism to take money land and control of what they wanted, those dictatorships only took over the most profitable of business and industries - such as real estate and oil/gas and farming etc, what they didn't take over remained for private enterprise to continue as they did before governmental change.
Here an example, in China you see restaurants/stores/bars/companies/farmers/etc(no point listing everything) and they all private owned before communism, when communist take power they don't send government agents to manage the restaurants/bars/stores/etc that are small business so those small business don't change much except pay more taxes.
The communist do send agents to take over bigger businesses they see as profitable and worth taking over, such as Huawei and Alibaba and SINOPEC etc.
So when communist take over all businesses operate as usual but some have new bosses - that's what I mean by capitalism still exists.
It's not the communism/capitalism ideologies that caused countries to be unable to compete in the global market - it is the lack of modernisation and lack of allowing more foreign investment and more foreign trade.
I posted originally because this thread is wrongfully accusing capitalism of being a reason to worry about totalitarianism and China - when it is totalitarianism only that is worth worrying about, nothing to do with capitalism or China being China.