Yes. To add to that: the mere fact that the current European economy cannot exist but for the spoils of centuries of imperialism and exploitation should itself give us pause.
Very heavy reparations were demanded from France after the 1870-1871 war. Guess by who? Germany. France paid in full, quite quickly, despite the reparations being very large and the French economy being smaller than the German one in 1918.
Germany didn't really want to pay and it also fell into disarray due to other reasons, not related to the reparations.
I know this is a sort of twisted morality, like not punishing a bully because he might beat you up, but as many have discovered, the moral high ground is not a shield.
It is controversial, but not a myth:
You cannot separate the effects of the Industrial Revolution on Europe from their imperialist practices.
The Industrial Revolution was principally fueled by resource extraction, labor extraction and genocide committed in the colonies.
> and of course European colonialism also drove industrialization in its colonies.
This is literally a standard white supremacist talking point. So I'm not really going to engage with it further, other than to point that out, and to mention that "trickle down" industrialization of the colonies doesn't justify the massive exploitation that European colonialism hinged on.
This is patently false, and we know it’s false because the end of slavery and colonialism didn’t slow the pace of industrialization. Certainly some of the initial investment came from wealth created by slavery and colonialism, but it was by no means the principal fuel however much activist revisionist historians might like us to believe otherwise.
> This is literally a standard white supremacist talking point.
Maybe so, but “white supremacy” doesn’t logically follow, so the point remains valid. I’m not content to yield the truth to white supremacists, since their conclusion is incompatible with the truth. Of course this one benefit doesn’t justify colonization; injustices can have some positive outcomes—we can recognize this while acknowledging that the positive outcome doesn’t justify the injustice.