it's a little bit more complex than that. If you want to find out what socialism and communism are really about i'd read some karl marx.
there is a difference between so-called communist countries like china and the former USSR, and even Cuba and a big difference with many south American countries in terms of what their actual national policies are.
Don is right about some of the flaws that have been exhibited in countries that have attempted to implement some forms of communism. But on the other hand many countries have also been highly successful both in commerce and in social/human services through socialist policies, such as Canada and many European nations.
But as to the posters original question, I'd say yes. While in the last few decades production has been in increasing decline, the US is still the world's chief importer and consumer of goods, so we are pretty much the center of the world economy. there are a lot of reasons for that, I can get into it more later.