Hi Kp,
There have been a lot of Capitalist country failures too
but we don't attribute that to Capitalism .
And besides, Western countries are no longer Capitalist
but instead a mix of Socialism and Capitalism called
The Welfare State....the Socialist part being a neccessity
to preserve Capitalism from mass revolutions. Just look
at the welfare budgets of western "capitalist states"...
Aus for example:.

Of course America panicked in the 70s/80s amid its Cold War
frenzy and implemented Neo-Liberalism which promptly got rid of SOEs (a symptom of
Communism). Of course we being pseudo Yanks did ditto by privatising the Comm Bank,
Telstra, Qantas etc etc.