Faeelin
Banned
That's the crux of this whole issue, which I think everyone is ignoring. Do we even have a recognizable Europe in 1600 without Peruvian silver? The whole growth of commerce in Europe which stimulated the Enlightenment was built on Spanish silver. Without a good currency, Europe's economy will be retarded, and it follows that Europe's scientific and cultural development, not to mention further colonial efforts, are going to be much less than OTL.
Given all this *whew*, where is Europe left? How much (if at all) is China affected? The question is about Europe, not China or America.
I agree 100%.
But can Europe bounce back in gthe global economy? Even if Europeans become better pirates in the rest of the world than OTL (and that seems unlikely) I have a hrd time seeng them making up for the economic loss. I suppose prices of goods in Europe oculd be lower (although less silver means less money, so not good).