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Final answer:
European powers sought to expand markets, acquire raw materials, and maintain economic dominance through their colonization of Africa and Asia.
Explanation:
European powers competed for new colonies in Africa and Asia primarily due to economic motives. They sought to expand markets, acquire raw materials, and maintain economic dominance by exploiting the rich natural resources found in these regions. The desire for captive consumer markets, resources like copper, rubber, and tea, and the need to fuel the Industrial Revolution were major driving forces behind this colonial competition.
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