41. After their departure, the socialist economy collapsed. 42. "There's a socialist economy , " he added. 43. These big industries have struggled to survive the collapse of the socialist economy , but have since recovered. 44. But now China has all but jettisoned its socialist economy , while Russia ditched communism a decade ago. 45. But this is not sufficient reason for concluding that markets have no place in a socialist economy ." 46. During his five years in power, Rao's party has revolutionized India's closed and socialist economy with free-market reforms. 47. That change came as India began moving away from a socialist economy to one with more open markets. 48. They contend that there is little chance that Russia will revert back to a centrally controlled socialist economy . 49. The junta that seized power in 1988 transformed a long-time socialist economy to a partly free market system. 50. The junta that seized power in 1988 transformed a longtime socialist economy to a partly free market system.