Empire ancient city-states of the Levant. Circa 1500 BC in China rose the Shang Empire which was succeeded by the Zhou Empire circa 1100 BC. Both surpassed in territory their contemporary Near Eastern empires. The Zhou Empire dissolved in 770 BC into feudal multi-state system which lasted for five and a half centuries until the universal conquest of Qin in 221 BC. The first empire comparable to Rome in organization was the Neo-Assyrian Empire (916–612 BC). The Median Empire was the first empire within the territory of Persia. By the 6th century BC, after having allied with the Babylonians to defeat
Historiography of the fall of the Ottoman Empire the borrowing rate rarely went below 10% after 1860. European involvement began with the creation of the Public Debt Administration, after which a relatively peaceful period meant no wartime expenditures and the budget could be balanced with lower levels of external borrowing. The semi-autonomous Egyptian province also ran up huge debts in the late 19th century resulting in foreign military intervention. With security from the Debt Administration further European capital entered the empire in railroad, port and public utility projects, increasing foreign capital control of the Ottoman economy. The decline thesis has come under considerable criticism by Ottomanists in recent