Asia: In the 1500's, Portugal took control of the Indian trade network from the Muslims. They also captured and controlled important trade ports along the Indian coast. This resulted in Portugal controlling the spice trade for most of the 16th century. Portuguese power in this region declined due in part to their mistreatment of native people in India, and the disrespect shown to Indian religion and culture.
The Dutch took control from the Portuguese in the late 1500's. A group of wealthy merchants setup the Dutch East India Company in the early 1600's and became the dominant force in the Asian spice trade. Their power did not begin to decline until the 1700's.
The British and French formed their own East India Companies and competed for the lucrative spice trade during the 1700's. Britain and France both formed alliances with local princes and employed Sepoys, or Indian troops. In the end, the British East India Company forced France out and remained in control of the trade networks. Soon after, they became the real power in India.
Spain attempted to gain part of the Asian spice trade through its claim on the island chain known as the Philippines. The Spanish claimed the Philippines due to their discovery by Ferdinand Magellan in 1521. Spanish merchants and missionaries used these islands as a staging ground into Asia.
Excerpt courtesy of: http://www.regentsprep.org/regents/global/themes/movement/exp.cfm
Focus Question: How did European nations build empires in South and Southeast Asia?