In order to appeal to the leaders of East Asia’s fast-growing economies – which Putin has called the most important factor for Russia’s long-term success – the government spent billions of dollars this year to modernize the dilapidated port of Vladivostok. But, given that Asian leaders view Russia as little more than a natural-resource milk cow, it is far from clear that the investment will pay off, particularly given the absence of a comprehensive economic-development plan for the region.