Western Europe is all about that. How many colonial guldens are under each stone of town squares of its cities ...
No surprise that technical revolution was originated there.
Back to Russia...
At WW1 it had no chances to confront rest of Europe. Like it was "shell hunger" in Russian army in 1916 - it's "industry" simply could not produce enough.
But at WW2 time it did that - pretty much all Europe was working on Hitler's war machine.
Rise of potential was tremendous if to consider that it happened between 1917 and 1941.
Of course the only option of that burst was exploitation of its own people - Russia didn't get any (significant) investments from outside.