The world's longest cable-span stretches from Vladivostok city to Russky Island (photo: dpa)

Doubt over legacy after Russia’s multi-billion dollar preparation for APEC

Nearly 700billion rubles (US$21bn) have been poured into the transformation of Vladivostok, a down-at-heel former military town in Russia’s Far East, which will host the gathering of Pacific rim leaders at the APEC Summit in September 2012. Moscow’s thinking is to showcase this eastern outpost, ignite the interest of foreign investors, build trade with Asia and stave off perceptions that the region will one day be dominated by neighbouring China. But some doubt the legacy of Vladivostok’s facelift.

MOSCOW is banking on a multi-billion ruble facelift to launch Vladivostok, a once run-down coastal city plagued by unemployment, as the future economic hub of Russia’s Far East.

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Professor Stefan Hedlund
If Russia persists in trading raw materials for manufactured goods it will never become integrated into the world economy, in any other sense than trade statistics
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