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Everyone knows that France did horrific during that time which is often talked about, but Spain did very poorly as well. Spain only went from about 12 million to 20 during an entire century. Granted, they had a net outflow while France didn't, but so did Britain, Germany, Italy, and many others who saw huge population growth.

What factors caused this? And how might a Spain that can match Britain and France at 40 million by 1914 shake up the balance of power in Europe (and the New World and Pacific and Africa and everywhere else they had relevance)?
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