You literally just explained why socialism did not cause the collapse. Having an oil-dependent economy has nothing to do with socialism. Nationalization of industry, worker-owned cooperatives and collectives and universal programs like land reform, welfare, healthcare, vaccination, etc. are all socialist policies. Socialist governments wouldn't manage national domestic production if they relied so heavily on imports, and countries that do import a lot, like Cuba, do so because of U.S. sabotage. Obviously China is a huge producer.
The pandemic was a great display of how easily capitalism collapses amid a pandemic and how ill prepared such a system is for an airborne virus.
Caption this Meme 
