The failure of communism in Asia

NY Times:

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In the three decades since Vietnam has gone from communism to a form of capitalism, it has begun surpassing many neighbors. It has Asia’s second-fastest-growing economy, with 8.4 percent growth last year, trailing only China’s, and the pace of exports to the United States is rising faster than even China’s.

American companies like Intel and Nike, and investors across the region, are pouring billions of dollars into the country; overseas Vietnamese are returning to run the ventures.

In the latest sign of Vietnam’s economic vitality, trade negotiators from around the world are preparing, after more than a decade of talks, to put the finishing touches on an agreement, possibly by Oct. 26, for Vietnam to join the World Trade Organization. President Bush, President Hu Jintao of China, President Vladimir V. Putin of Russia and other heads of state plan to come to Hanoi in mid-November for an Asia-Pacific Economic Cooperation summit meeting.

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You would think that people like North Korea's Kim would take notice and also move away from the failed socialist model. What is Ironic about Vietnam is how much time they lost when the communist won the war. If the communist had lost, South Vietnam alone would have outperformed the whole country, just as South Korea has outperformed North Korea. The bottom line is that communism is a demonstrated failure and it is remarkable that it still has its adherents mainly in academic institutions. No one in the real world would make that choice, but people like Castro and Chavez do try to be willfully ignorant on the matter.