How/When did China go from Communism to Capitalism?

Last thing I remember they were part of the "Red Menace". People wore little Chairman Mao buttons; worked for the "People's This" or the "People's That" and spouted anti-capitalistic rhetoric of the Chairman.

Now, somehow, China has gone from this to a rabid, greedy, exploitative capitalist state with private companies and profit motive.

How and when did this radical transformation occur?

http://en.wikipedia.org/wiki/Deng_Xiaoping

of the Global New Right.

Parallel developments. We're nearing the terminal stages of our profitability and usefulness to them as chief military enforcer, so they've created new markets and superstates in the East. Bush is here to keep order while the remaining assets are sold off.

I'm surprised that isn't obvious to everyone. Anyone have a different take?

It is the only thing that makes sense....there won't be more profits available here until the average American citizen is n a par with the developing world.

saw what kind of money was in it-just like here.

that paved the way for what unfolded in the next 3 decades. After Hua Guofeng, Mao's anointed replacement, was out maneuvered by Deng Xiaoping, Deng began the real work of improving and accelerating the China/West diplomatic and business relations. Deng also restructured domestic policies here and there as well to transform and prepare China for this capitalistic framework.

The other big factor was after Hong Kong was transferred back to China's control from Britain in 1997. That put China into, perhaps, one of the best case scenarios for pumping up their economy and becoming an global economic powerhouse. The "Super Power" status of China will probably emerge in next 20 years (my guess).

I have a lot of experience doing business in Asia
The Communist leaders and government realized that it was impossible to feed and take care of
such a massive population thru communism. But the population did not have private capital to
run capitalist type businesses, which would generate and create an economy which would feed the people.
But they knew that they had an invaluable asset in cheap labor.

So, they government , at the Federal, State, and Local levels, started to provide the capital for start up businesses.
Knowing that the seed money would create jobs and turn into more money . If the government money was used to feed the people, it would be used up and gone the first time. Now , it creates more money.
China is the largest consumer of scrap metal in the world and is responsible for the basic commodity prices to reach historic records highs. The price of Copper and Steel are 3 times what they were 15 years ago.
China needs all that they can get to build an infrastructure and create employment and make goods to sell worldwide.
The Chinese view Capitalism as a system to take care of their people, in which the people will benefit to an extent not possible under communism.
In America, Capitalism has become perverted and distorted, and dominated by the Ultralarge Mega Corporations, who use capitalism to control American Democracy and the economy and bludgeon the population to satisfy their greed and power lust. They have no interest whatsoever in using their businesses to make America a better and stronger country.
Hence, the damage to the American economy and American Middle and Working Class which is being done by a combination of China and India's aggressive Capitalism and America's Mega Corporations self aggrandizement behaviors.
Which results in our Fearless leader's support of globalization and his perverted concern for foreign economies at the expense of America's economy and his speech this week in India extolling outsourcing at the cost of Americans losing their jobs.