Otl, to say spain was hit hard by everyone's favorite corsican minor noble (unless you yourself are a corsican minor noble, which is a tad unlikely) is an understatement. They lost their empire, whatever industry they had, their people, and indeed, Franco's rise and their whole history of political instability was triggered by Napoleon's attacks.
So, Napoleon doesn't come to power, and so can't destroy spain. What happens? Does España modernize itself and Latin America? Is Spain of all nations, the biggest obstacle to american expansion instead of our punching bag (see: them ceding florida because of America's rising power; the monroe doctrine especially targeting them since they had more reason to invade america and still held boliva, and also the SPA-USA war) Or is it like an American Russia? Impossibly massive, but unable to throw its weight around?
 
They could probably hold onto their empire until at the latest 1850s as Spain's industrial capacity could not keep down rebellions in its colonies; which would definitely revolt with independent Brazil and USA. Maybe they do defeat south american revolts but I doubt Mexico could be stopped.
 
It could mean Spain retains Florida in the War of 1812, not being bogged down against Napoleon would allow them to send more troops to the Americas, but the colonies were headed towards rebellion long before Napoleon. They were way too big, both geographically and demographically, and had too much identity to stay relegated as subjects to the Spanish Empire.
 
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