Old country is, by Asian reassessment (9)
I believe the answer is:
abyssinia
'old country' is the definition.
(historical name for Ethiopia)
'is by asian reassessment' is the wordplay.
'is by asian' anagrams to 'ABYSSINIA'.
Though, I am not clear how this is indicated.
Can you help me to learn more?
(Other definitions for abyssinia that I've seen before include "former African state" , "Former name of Ethiopia" , "Former nation" , "What became Ethiopia" , "Former name of northeast African country" .)