Why did French trade plans in Spanish America alarm England and the Dutch Republic?

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During the War of the Spanish Succession, England and the Dutch Republic were alarmed by French trade plans in Spanish America because they feared the consolidation of a Bourbon-controlled empire that would disrupt the European balance of power.1

When the Spanish king Charles II died in 1700 without an heir, he named Philip of Anjou—a grandson of the French king Louis XIV—as his successor. England and the Dutch Republic were deeply concerned that this union would allow France to dominate the lucrative Spanish-American trade, effectively granting the Bourbon dynasty control over the vast wealth and resources of the Spanish colonies.1

Historically, foreign powers had sought to share in the Spanish-American trade, which was a vital source of gold and silver bullion. The prospect of France securing a monopoly over these markets threatened to exclude English and Dutch commercial interests, while simultaneously creating a geopolitical bloc so powerful that it would threaten the stability and security of other European nations. This fear of French hegemony was a primary driver for England and the Dutch Republic to support the Habsburg claim to the Spanish throne, leading to the outbreak of the war.231