[magicsmoke]

During the cold war both the US and the USSR were self sufficient in terms of wheat and oil. China is one naval battle in the Indian ocean away from having a taste of Imperial Japan's oil shortages in WW2. If the USSR practiced state capitalism then we might still be locked in the twilight struggle with them today.

[sudosysgen]

No, and no. There is no reason to believe that the USSR would have been able to develop beyond their level of development, that many capitalist nations aren't able to surpass, given the geopolitical and political situation. It seems to me that the fall of the USSR was due to political issues, and an unsustainable political system, more than anything.

China also doesn't require any naval transport from oil shortage. Indeed, it very conveniently has a major oil exporter to it's north. So unless you would wage war on the Russian and Chinese mainland, you have no hope of completely starving China of oil. You might reduce the amount of oil they have, but they have enough reserves to last until a tripling of Sino-Russian pipelines.