Russia miscalculated. Happens in all wars. Tzu once said that before a war, the two opposing sides think they know what the other side is doing or thinking, but once the war starts they will find out that they really do not know. Russia thought NATO/EU will cower, former Soviet Republics and Eastern Europe will not condemn them and most important, China the other anti US nation will back them. Guess what, all pre war notions are slowly being invalidated. The longer Russia remains in Georgia, the worst for Russia because the excuse of protecting ethnic Russians no longer hold water. In a multipolar world, China would not mind if US and Russia gets into another Cold War because such a conflict will suck resources from the opposing nations while China preserves hers as she builds up her economic power and influence in Far East Asia. I think Russia is slowly realizing this. The Russians need to remember that China is her neighbor while the US happens to be in the neighborhood.
Russia wins backing from China
It appears that the Chinese are backing the Russians in the matter.