International Impacts of the Spanish not discovering and conquering the Philippines

[kasumigenx]

Since I am doing a timeline where the Spanish don't colonize and discover the Philippines, it will be quite obvious that there will be the impact of the Spanish not conquering in the territory and one of that is that Luzon would be divided into a state ruled by Bruneian dynasty and a state ruled by a Local dynasty, I think both would end up as tributaries of Brunei as Luzon was during the time Legaspi came, there is an alliance between the dynasty of Tondo and Caboloan or Northern Luzon in general and Japan, the prior alliance and tribute relationship with Majapahit which would die in 1528 when Majapahit disappears completely and the Visayan states would still be in danger of Brunei conquering them.

Here the Ming would survive and they would have not experience inflation by Silver, but how would the other states and powers in the world fare in that situation.