Guns of the East, Europe without Asian Colonies
Before the Europeans came to Asia preaching about the catholic faith and making huge profit stealing land and gold to fuel their empires. Muslim missionaries are sent to Asia to well, spread the version of their good word.
Now somewhere along the way about 1400-ish a Muslim empire was created in the South East Asian region, be it Malacca, Borneo, Sulu or Masakkar. The country prospered by trading with middle-east and even as far as eastern Europe. Since South East Asia at that time and until now is filled with several different religion and beliefs their neighboring nations grew jealous of their wealth so they decided to attack this country. Unfortunately for them this country is almost in-par with the nations in the middle east and was able to fight them out.
So when the colonizing country finally came to Asia, they would find it almost in par with their technology. Making and maintaining a colony would become more perilous as it would require a significant amount of men and resources just to establish a foothold, but in going so would weaken their power in their respective homeland.
Oh the Americas was still colonize the regular way, but Asia seems to be a much harsher place to colonize. Compare it to the Crusades, but with SEA! and GUNS!
So what would happen to europe without the wealth of Asia?