First of all, China abandoned communism about 20 years ago. It's capitalistic, but it's state-run. That's fascism, not communism.
They kept the name of the Party, but that's it.
The Party considered political reform and an introduction of political freedom, but they freely admit that they felt they had to make a choice between democracy and getting rich. They chose rich.
The final point where Steyn is wrong is that the Chinese intend to force 400 million of their rural residents into the major cities over the next 15 years. So they will participate, to some extent, in the growing Chinese economy. They'll be the cheap labor that assembles the cars for export to europe and America.
Fascism does work. And as long as you don't desire to dissent and aren't at the bottom of the economic ladder, it's a far better existence than under true communism.
China is a 4,000 year old country and has essentially governed itself that entire time, with very brief periods of foreign occupation. The borders have changed very little.
It's not going to unravel this century.
You just answered this article perfectly.
Is it true that China owns about 40% of our debt?