European countries set up colonies in asia following the
discovery of western and new eastern routes to these
lands. what impact did these colonies have on the
countries of europe?

European colonization of Asia had numerous impacts on the countries in Europe. First of all, it improved the trade and made new routes for exploring. Explorers brought a lot of new goods in terms of objects, craftmanship and food to the Europeans. They also got the chance to exploit cheap labor from Asia. Some inventions were brought into Europe, for example paper money or printing press.

Colonization lasted until the 20th century, until the end of the second World War. Colonization also brought competition between european countries in their goal of acquiring wealth and extracting it from asian colonies.

a drastic rise in oil prices ended decades of postwar.