Half right, the Russian Federation abandoned Socialism with the dissolution of the USSR. The PRC hasn't achieved Communism yet, but have a Socialist Market Economy and are run along Marxist-Leninist analysis. It isn't correct to call the PRC an "oligarchy" either, China Has Billionaires but they are subservient to the CPC, which has over 96 million people and functions in a "top down, from the bottom up" fashion. Those at the top of the CPC, in the NPC, are largely educated non-bourgeoisie.