What exactly was the “threat of communism”? As an economic system it is inferior to government regulated capitalism. Communist states grow their economies slower every year than capitalistic states, so they become less of a threat every year, and the comparison pushes their people toward capitalism. As a political system, communism was a variety of dictatorship or oligarchy, and not particularly stable or appealing.
Post-WWII in the European colonies, the threat of communism is that the people will be better off, at least in the short and medium terms, so there was a threat to European control, and then to the minority white government or the local satraps.
In the West, the threat of communism is that workers would insist on a pay raise, and the opportunity of communism was that it was a cudgel to destroy unions and the left.