Final answer:
The decline of European dominance will impact the developing world in terms of economic disparities, the legacy of colonialism, and shifts in global power dynamics.
Step-by-step explanation:
The decline of European dominance will have significant impacts on the developing world in various ways. Firstly, with the decline of European dominance, countries and regions lacking important resources may receive less attention and support from the developed world, leading to economic disparities and limited growth opportunities.Secondly, the legacy of colonialism and imperialism in the developing world continues to affect these countries in the form of high levels of government corruption, poorly developed industries, and conflicts arising from borders drawn for the benefit of imperialist powers.Lastly, the decline of European dominance may also lead to shifts in global power dynamics, as emerging economies in non-European parts of the world gain more influence and control over international affairs.