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This video discusses the Bourbon Reforms, a series of economic, political, and social laws enacted by the Spanish Crown in the 18th century. The main reasons for the Reforms were Spain's loss of world dominance, successive financial crises, and the increasing presence of Spanish American producers of contraband. The Reforms in economic and commercial areas focused on three aspects: intensification of trade, increase in Indian population, and improvement of the fiscal system. The Reforms in military affairs focused on providing regular army information and ended the sale of posts. Finally, the Reforms liberalized trade between Spanish and American ports.
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