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So obviously, the Treaty of Tordesillas prevented this, but considering how it was obviously ignored, what if Spain decided to ignore it and attempt to conquer the rest of South America and leave a lasting impact as it did on the other half of the continent? Brazil and the three triplets.

Would it be possible? If they end up losing it, how long do you estimate they'll be able to keep it? And also, how would it affect SA in current times?
EDIT: No Iberian union.
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