Final answer:
European colonization in Asia led to significant economic transformations and the rise of financial institutions, like the City of London. Despite power struggles, the impact of colonization and the industrial revolution altered societal and economic structures in Europe, with the British Empire establishing widespread dominance.
Step-by-step explanation:
The establishment of colonies in Asia by European countries following the discovery of western and eastern routes to these regions had significant impacts on the European continent. Financial institutions such as those in England became established, leading to the rise of the City of London as a central hub of international finance. This expansion into Asia involved European powers such as the Dutch, who founded Batavia in Indonesia, and the Spanish, who took control of the Philippines. However, in Asia, unlike in the Americas, these European powers faced formidable empires such as China, India, Japan, and the Ottomans, which were too strong to be overtaken.
The pursuit of Eastern commodities catalyzed a transformation of Europe's economy and reinforced the state's institutional structures. In the 1800s, as European colonization solidified, the societal and economic landscapes underwent radical changes due to the industrial revolution. The British Empire's dominance was epitomized by its navy and far-reaching territories, including parts of Africa, Egypt, India, and a port in China. Meanwhile, the discovery of resources such as diamonds and gold in South Africa drew the British to overpower local nations like the Zulu with superior technology.