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66<br />

that it had become impossible to cont<strong>in</strong>ue <strong>the</strong> occupation. Consequently majority <strong>of</strong> <strong>the</strong><br />

colonized areas <strong>in</strong> Asia <strong>and</strong> rest <strong>of</strong> <strong>the</strong> world were decolonized <strong>and</strong> this resulted <strong>in</strong> <strong>the</strong> birth <strong>of</strong><br />

many new <strong>in</strong>dependent states; at <strong>the</strong> end <strong>of</strong> n<strong>in</strong>eteenth century <strong>the</strong>re were 57 sovereign states<br />

with total population <strong>of</strong> 1.63 billion 10 where as today 266 11 entities (both <strong>countries</strong> <strong>and</strong><br />

territories) with total world population <strong>of</strong> 6.80 billion. Among <strong>the</strong>se political entities <strong>the</strong>re are<br />

203 sovereign states. 12 Likewise Asia was comprised <strong>of</strong> few sovereign states, before <strong>the</strong> era <strong>of</strong><br />

colonialism, but today it has 48 <strong>in</strong>dependent states <strong>and</strong> 12 dependencies (Wikipedia, 2010).<br />

4.2.4 Economic history <strong>of</strong> Asia<br />

Full picture <strong>of</strong> <strong>the</strong> history <strong>of</strong> <strong>Asian</strong> economy can be seen by tak<strong>in</strong>g <strong>in</strong>to account <strong>the</strong> history <strong>of</strong><br />

several dist<strong>in</strong>ct regions collectively. These regions had varied levels <strong>of</strong> economic growth <strong>and</strong><br />

development. Historically three major civilizations (Indus valley civilization, Ch<strong>in</strong>ese<br />

civilization <strong>and</strong> Near East Civilization <strong>in</strong> Mesopotamia.) were dom<strong>in</strong>ant on <strong>Asian</strong> economy s<strong>in</strong>ce<br />

<strong>the</strong> emergence <strong>of</strong> agrarian society 10,000 year ago (Gupta, 2004), (Hamilton, 2009). As <strong>the</strong>re<br />

was limited trade between <strong>and</strong> among <strong>the</strong>se civilizations so <strong>the</strong> economies <strong>of</strong> <strong>the</strong>se parts<br />

exp<strong>and</strong>ed <strong>and</strong> progressed more or less <strong>in</strong>dependently. In Mesopotamia Tigris <strong>and</strong> Euphrates; <strong>in</strong><br />

Ch<strong>in</strong>a Yangtze, Yellow, Mekong <strong>and</strong> Pearl rivers; <strong>in</strong> India Indus, Brahmaputra <strong>and</strong> Ganges<br />

rivers provided plenty <strong>of</strong> water for fertile l<strong>and</strong>s <strong>of</strong> <strong>the</strong>se regions (Jones & Liu, 2009). These<br />

Rivers, fertile l<strong>and</strong>s <strong>and</strong> accessibility to sea played a key <strong>role</strong> <strong>in</strong> <strong>the</strong> growth <strong>of</strong> <strong>the</strong> economies <strong>of</strong><br />

<strong>the</strong>se regions. Perhaps this is one <strong>of</strong> <strong>the</strong> ma<strong>in</strong> reasons that <strong>the</strong>se civilizations were <strong>the</strong> richest <strong>and</strong><br />

<strong>the</strong> most prosper <strong>in</strong> terms <strong>of</strong> economy <strong>and</strong> culture (Dahlman & Aubert, 2001).<br />

10<br />

http://www.ppionl<strong>in</strong>e.org/ndol/pr<strong>in</strong>t.cfm?contentid=252023 Retrieved on 9th February 2010<br />

11<br />

European Commission- List <strong>of</strong> <strong>countries</strong>, territories <strong>and</strong> currencies (December 2009) http://publications.europa.eu/code/en/en-<br />

5000500.htm Retrieved on 9th February 2010<br />

12<br />

Population: http://en.wikipedia.org/wiki/World_population Retrieved on 9th February 2010

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