'What if Gorbachev succeeded in reforming the Soviet Union' is an interesting alternate history scenario I think. I'm not sure it's a realistic one though, the problems he faced were likely insurmountable.
I'm sure a slow transition, the way he seemed to intend, would have been more stable. A slower, steadier process could ensure smooth transitions to the post Glasnost state for all hardliners and other stakeholders from whom buy-in would be required. The way it happened, rushed through by Yeltsin, accelerated collapse created a vacuum that was quickly filled by powerful criminals (which is usually what happens when governments collapse - and this is a cautionary tale for Americans, BTW).
> I'm not sure it's a realistic one though, the problems he faced were likely insurmountable.
The Soviet Union was broken, and would need to drastically cut expenses in order to provide for its own citizens, but the situation could be engineered to make sure any vacuum happened in the international space in such a way anyone who stepped in would deeply regret it. Think many Afghanistans worth of problems.
Compare it with the CCP who had Hong Kong, Taiwan and Singapore tycoons to help with the transition to a free market economy.
Whatever the Chinese have been doing for the last ~40 years? The CCP still holds power, but material comfort has increased for the Chinese people.
Poland has also done pretty well in going from Communist to free-market and democratic (notwithstanding people supporting the Law and Justice party).