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..."thanks to centuries of pillaging the rest of the world"
That's really not true and you should know it. Portugal and Spain are two of the main colonial powers in European history and they were both shit poor in the 70's. Portugal more than Spain PRECISELY because it still had colonies, that were costing it blood and money for centuries by then.
I'm not victimizing Portugal, just reminding you, and anyone else who might need to learn this, that colonization was profitable only for short periods into few pockets. Portugal had 3rd world child mortality and alphabetization rates right before joining the EU. Joining an open trade area was the secret to change that.
Also, another important reminder, most EU member states never had colonies.
Britain industrialized first in history precisely because of its wide colonies. Exploitation of the global south is not a precondition for industrialization (see China, USSR), but it was one of the key factors that kickstarted the industrial revolution.
Britain was already very industrialized before the steam engine. Portugal had colonies before Britain and was importing textiles and other utensils from the British industry already in the XVI century and even before that. Portugal and Spain totally missed the industrial revolution btw. So I don't think those issues are that directly connected. In Portugal historians often argued that we missed the industrialization precisely because of the focus on maritime trade and colonies.
https://en.wikipedia.org/wiki/Methuen_Treaty
Don’t forget Britain too. They’re not as poor as Spain and Portugal by a long shot but because they had colonies, their manufacturing didn’t need to be competitive, and when the Germans developed industry, the British couldn’t compete. Still can’t.
That’s not to excuse colonial behaviours but to say that Europe is strong because of it is a misstatement.
Colonies filled some pockets but for the states, most of the time they were a money drain. Especially when effective colonization (as in taking control of vast territories and "civilize" the people) took place. The real profitable moments were mostly due to trade/piracy, and not territorial control, which is very expensive.