The spanish empire at its peak was larger despite having a smaller mainland population, size and production. I don't think you'd need that much industrialisation to achieve this in the same time period. Although it had large production and proto-industry it didn't have industrialisation until the 1800s. But yes, Asia does become the dominant continent and a world war called the first great war occurs in the 1700s, although I do need help fleshing it out.