It shows that you have not read it =). It is written from a global perspective as far as the sources and earlier research allowed in the seventies. The focus on Europe is notable in his discussion of industrialisation for a reason. Capitalism was also relatively strong in Europe in the early modern period in comparison with China or the Islamic world, characterised by free markets.

China was the dominating economy in the ca. 1450-1650 and very powerful after that. Silver flowed to China in enormous quantities in exchange for luxury goods. After that the Europeans dominated global trade and controlled important parts of the regional asian trade as well. The european economy was also devloping technologically at quick pace and becoming even less labour intensive than Chinas. Chinas economic development went into a significant population expansion, and the colonisation of highland and periphery.