We still out gunned and out spent the Communists. They out fought us and had the support of the vast majority of the Vietnamese. Don't argue with me about that. Argue with President Eisenhower. I have posted this before. Read it this time.
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This page from President Eisenhower's Memoires, Mandate for Change, page 372, shows that he believed Ho Chi Minh would have won any free election in Vietnam in 1954. This is certainly why the U.S. did not permit such an election, though the Geneva Convention of 1954 required it.