As a long-time amateur China-watcher (and former Soviet-watcher), my contention is that the problem with China isn’t Communism - it’s the Chinese (much as the problem with the Soviet Union wasn’t Communism - it was Russians who viewed themselves as world conquerors). When Imperial Japan went on its world tour, its model was Imperial China during its moments of martial vigor. The Chinese put on a mask of amity during their period of weakness, but now that China has grown strong, that mask is slipping. I suspect that future historians will look back upon the Maoist era, when China closed itself off from the world, as a period of respite for China’s neighbors - a time for them to prepare for a revived China red in in tooth and claw. However, historians may also record China’s feckless neighbors (aka future prey) as having wasted the breathing space afforded them - all you have to do is look at their minuscule defense budgets. With the exception of Vietnam and India, China’s neighbors appear to have settled upon a common policy based on (1) Uncle Sam providing for their defense and (2) fighting China to the last dead American.
They had better take a second look at their cards before placing any more bets. It's a whole new world.