What major economic theory influenced the development of Western Europe in the 19th century? 🔊
The Treaty of Utrecht, signed in 1713, ended the War of the Spanish Succession. This conflict arose from the fears of European powers regarding the potential unification of the Spanish and French thrones under the Bourbon family. The treaty resulted in significant territorial and political changes across Europe, with France ceding various territories to Britain, the Dutch Republic, and others. Most notably, Britain gained control of Gibraltar and Menorca and secured a monopoly on the lucrative slave trade in the Spanish Americas. The Treaty of Utrecht was pivotal in reshaping the balance of power in Europe and establishing a precedent for future treaties.
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