The history of red color and socialism

Red become the color of Communism and socialism during the russian revolution in 1907.

Although I'm not entirely sure, I think it originated in the uprisings that took place in France in 1848-52 or thereabouts.  I heard once that police were putting down red flags and as rebellious workers surged forth they grabbed the red flags and claimed them as their own banner.

In Russia, red means beautiful. The Bolsheviks used a red flag as their symbol when they overthrew the tsar in 1917. In China, red is the color of good luck and is used as a holiday and wedding color. Chinese babies are given their names at a red-egg ceremony.  So does the color red really relate to communism or is it that countries translations and symbolisms that made it red?