1974, Russia and China do have a lot of resources but they are Communist Dictatorships with not a lot of freedoms for there people. That is the key for them to make it let the 1960’s here, The U. S. was a Capitalism with all the freedom to do, think and own with no government in your way which we do not have now but China and Russia do not have that ether so I am not sure if they can make it on there own.
So fare in history there has not been a Communist country make it big like the U. S. did. Yes we are not there anymore but that is because of all the regulatory bodies the government has now.
The Chinese have less regulations but the government owns everything, they are a partner with every business in China. This is why there is not that many regulations there.
Russia was going in the direction of letting the people own many business but Putin has changed that back so we will see. The two countries need to open up there markets to there own people so they can be 100% owners which they are not able to do today.
I know this was a long response but when it comes to what freedoms these two countries have I do know a lot. I have done some business in China.