How did such an irony of history come about? Why did Asia miss out on industrialization? To my mind, the Asian countries, unlike the Western countries, were unable to respond adequately to the challenges and changes of a new civilization. For a long time, the Asian countries were unable to respond suitably to the changes in economic and social environment.
Firstly, Asia was densely populated compared to other continents. This made the intensive farming of small plots of land inevitable. Accordingly, it was scarcely feasible to accumulate a surplus from agriculture or to expand markets. In such a situation successful industrialization was necessarily difficult. Secondly, Buddhism or Confucianism that flourished in most regions of Asia also hindered industrialization.