The paper “ Аsiа in the World Есоnоmy” is an affecting example of the literature review on macro & microeconomics. The paper discusses the debate on why Western Europe industrialized earlier than Asia, which had superior technological and scientific knowledge in the pre-industrial period, critically review the Eurocentric view on industrialization and summarise reasons why Asia failed to be the first to industrializeIntroductionAt the end of the first millennium, the Asian civilizations were ahead of Europe in terms of knowledge and wealth. During the tenth century, Europe had regressed from the pomp and power of Rome and Greece and had lost much of the technological knowledge and science it had invented.
As the global industry and trade began to change into a more worldwide economy in the late 20th century, historians changed their opinions moving from a Eurocentric perspective of history. They included a more worldwide history that suggested a global economy beginning from the 12th century with its center positioned strongly in Peking (Landes 2006, p. 3). The question of why Western Europe industrialized earlier than Asia became a worldwide topic worth of historical debate.
The debate pertaining to why Western Europe became the first industrialized continent and not Asia which had superior technological and scientific knowledge in the pre-industrial period is misplaced from the perspective of mentality. Eurocentric views link Europe's successes in enhancing technology to culture and a free-market economy, and, as a result, Europe had conducive social, economic, and political establishments coupled with its temperate atmosphere and the absence of Malthusian pressure on facilities and resources, unlike Asia. The inquiry why the industrial revolution took place in Western Europe in the 18th century and not in Asia instigates diverse opinions that are portioned into global economists, Eurocentric determinists, and revisionists historians’ perspectives which dismissed the soundness of any comparison because of extreme disparities amid Europe and other regions of the world (Landes 2006, p. 3).
Such diversity in viewpoints causes a closer look into the contention areas, ecology, demography; technology, global economy, cultural disparities, government policy, the exploitation role, European economic advantage.
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