The fact that Capitalism has not (yet) solved the global issue of extreme poverty is hardly an argument against it. Particularly when it is the transition to capitalism which has done the most to solve the problem!
After all, it's a simple matter of fact that the accelerating decline of global poverty since 1990 was the result of the transition to capitalism in formerly Communist/Socialist countries in Asia, including the CCP's own particular flavor of state capitalism.[0]
I think comparing Capitalism and Socialism is a red herring. There is no "pure" Capitalism nor pure Socialism.
There are only countries with specific sets of laws governing them. The question is which system of laws is better and why and when and most importantly: Better for WHO?
Arguing that capitalism is the solution is like saying: Don't look here, we are better than socialist countries and therefore there is no need to improve anything in our country. Same for the other side too.
After all, it's a simple matter of fact that the accelerating decline of global poverty since 1990 was the result of the transition to capitalism in formerly Communist/Socialist countries in Asia, including the CCP's own particular flavor of state capitalism.[0]
[0]https://ourworldindata.org/uploads/2019/04/Extreme-Poverty-p... [1]https://en.wikipedia.org/wiki/Extreme_poverty