Possibilities:
A)América
1) The kingdom of all the Spains (Iberic Union), after a few decades of civil war, stabilizes and focuses on the recovery of Portuguese colonial domains lost to the English, French and Dutch.
2) Dutch reconquest the brazilian northeast and Angola after a few years of luso-brazilian Bragança Loyalist self-government - after Guararapes until 1660s with the portuguese defeat in Europe.
3)France occupys the Maranhão and Grão-Pará coasts (1670 - 1700) with tacital concordance of the dutch(with bleeding nose after the reconquest of Pernambuco and Angola) and spanish.
4)1. The discovery of gold in Minas Genais (1690-1730) causes a massive emigration of Spaniards (not only Portuguese, but also Castilians, Catalans, Basques, Galicians, Italians and perhaps and "Belgians") and spanish americans that's mischaracterize Brazil (until then of majority Portuguese and Tupi). Naturally, this process will require one or more "Emboabas Wars", possibly more bloody than OTL's.
5)Without the majority of the portuguese africa (loses to the dutch and british in the 1640-1680s), the slave trade to Brazil is reduced (not extinct) and the sugarcane agroexportation declines more than OTL. In consequence, the power of luso-brazilian sugar landlords declines too. In the south of colony: São Paulo(and Minas Gerais) the "bandeirantes" advanced more in the "Sertão" (maybe until Peru, las Misiones Guaranis and La Plata) for hunt indian slaves for the gold mining and plantation of sugarcane.
B)Europe:
1) How will the European balance of power change with the existence of an Iberian empire? Possibly there will be a Grand Alliance even more determined to prevent the expansion of Bourbons throughout Iberia during the Spanish War of Succession. In other words, an even longer war.
PS: Credits, Google Translate.
A)América
1) The kingdom of all the Spains (Iberic Union), after a few decades of civil war, stabilizes and focuses on the recovery of Portuguese colonial domains lost to the English, French and Dutch.
2) Dutch reconquest the brazilian northeast and Angola after a few years of luso-brazilian Bragança Loyalist self-government - after Guararapes until 1660s with the portuguese defeat in Europe.
3)France occupys the Maranhão and Grão-Pará coasts (1670 - 1700) with tacital concordance of the dutch(with bleeding nose after the reconquest of Pernambuco and Angola) and spanish.
4)1. The discovery of gold in Minas Genais (1690-1730) causes a massive emigration of Spaniards (not only Portuguese, but also Castilians, Catalans, Basques, Galicians, Italians and perhaps and "Belgians") and spanish americans that's mischaracterize Brazil (until then of majority Portuguese and Tupi). Naturally, this process will require one or more "Emboabas Wars", possibly more bloody than OTL's.
5)Without the majority of the portuguese africa (loses to the dutch and british in the 1640-1680s), the slave trade to Brazil is reduced (not extinct) and the sugarcane agroexportation declines more than OTL. In consequence, the power of luso-brazilian sugar landlords declines too. In the south of colony: São Paulo(and Minas Gerais) the "bandeirantes" advanced more in the "Sertão" (maybe until Peru, las Misiones Guaranis and La Plata) for hunt indian slaves for the gold mining and plantation of sugarcane.
B)Europe:
1) How will the European balance of power change with the existence of an Iberian empire? Possibly there will be a Grand Alliance even more determined to prevent the expansion of Bourbons throughout Iberia during the Spanish War of Succession. In other words, an even longer war.
PS: Credits, Google Translate.