WI: The Song Dynasty industrialises

OTL, Song China was closest to industrializing before Britain kickstarted the Industrial Revolution in our timeline.

Song China was one of the most prosperous and rich medieval economies. It had many features conducive to an industrial revolution; relatively high wages, coal production, population growth and scientific technological advances.

So what if the Song Dynasty was able to industrialize? Perhaps we shall butterfly the Jin-Song wars or even a Southern Song industrialisation?

What would be the effects of this industrialisation on the world? Obviously by present day technology will be a few hundred years more advanced, but what would be the geopolitical effects on the world?
 
If Song Dynasty industrializes that would help the Muslims expand sooner and push east and north since Majapahit prevented Islam from Spreading and Majapahit is a byproduct of Yuan...
 
As the profit motive overtakes other motives, Song Dynasty firms would invite Mongol Empire entrepreneurs as khan-suite senior officials to introduce innovative project management strategies and methods of capital accumulation. Although accompanied by negative externalities for Song Dynasty consumers, the adoption of the Borjigid business strategy would lead to long-term productivity increases due to an optimization of the supply chain, and from the perspective of property owners, more than compensate for a rapid drop in the supply of labor by deregulating worker termination and capturing regulatory agencies by unconventional means. Producers would welcome the loosening of trade barriers and access to new markets. Still, some would criticize the Mongol Empire business strategy for a short-term slowdown of actual wealth-creation.
 
What would be the effects of this industrialisation on the world? Obviously by present day technology will be a few hundred years more advanced, but what would be the geopolitical effects on the world?

Assuming an initial POD in 1115:

- The Mongols fail to conquer China, and as a result are much smaller and weaker
- The HRE was at it's height around 1200, and so the butterfly effect could prevent it from falling apart
- Russia was also balkanised, so the butterfly effect could also prevent a unified Russia from existing
- The Black Death could be much better or much worse for Europe, since it would get there sooner with China's advanced transport/trade infrastructure
- China becomes a colonial power, and as it's industrial tech finds it's way to Korea and Japan, so do they
 
The problem - as said in some earlier threads, originally not by me: Britain had to develop the steam machine to pump water from their coal mines. China also has coal mines, even more than Britain, but they rather suffer from being too dry (danger of fire!).
 
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