The Decline of Spain Essay Example | Topics and Well Written Essays - 500 words

The Decline of Spain - Essay Example This has been revealed that a major cause behind this decline was, during 1588 to 1598, Philips foreign ventures and his overseas policies that affected Spains economy in a very bad manner.2 Bankruptcy led Philip’s overseas ventures to an end, along with the Armada, that caused a major impact on Spains morale. Trade industry was developed between Europe and America in era of 1500 and 1600 century. Supplies made from America were the major reason of problems for Spain. As per experts of the field, the trade within Spain was not suitably regulated. They built poor relations between other nations due to a poor leadership; all these made grounds for loss of wealth for Spain. Moreover, the leadership within Spain also lacked essential economic qualities. On the other hand, France was continuously supplied by the resources from the US due to its positive and well- regulated trade policies. France economy was greatly improved due to its finance minister, Colbert, who pursued mercantilist policies and followed the trade policies implemented by the king. Colbert was the main person behind considerably improved economy of France; he encouraged farming, mining and other necessary industries, and also established highly money- making businesses. More can be learnt through further reading and research on this topic. The economic decline of Spain became worse due to reduced farming and commerce after starting trade with American colonies. 3 Spain could not maintain good relations with England due to which Queen Elizabeth permitted her army to invade Spanish treasure Ships. Then bad leadership also resulted in more loss of wealth as a result of costly wars which resulted in high inflation that became worse due to American gold and silver. France established its trade with overseas colonies. On the other hand, Spain could not take full advantage out of its colonies present in America. Main reasons