section_path: English overseas possessions (1583–1707)/Rivalry with other European empires
section_name: Rivalry with other European empires
paragraph_text: Rivalry with other European empires
  
  At the end of the 16th century, England and the Dutch Empire began to challenge the Portuguese Empire 's monopoly of trade with Asia, forming private joint-stock companies to finance the voyages—the English, later British, East India Company and the Dutch East India Company, chartered in 1600 and 1602 respectively. The primary aim of these companies was to tap into the lucrative spice trade, an effort focused mainly on two regions: the East Indies archipelago, and an important hub in the trade network, India. There, they competed for trade supremacy with Portugal and with each other. Although England eclipsed the Netherlands as a colonial power, in the short term the Netherlands' more advanced financial system and the three Anglo-Dutch Wars of the 17th century left it with a stronger position in Asia. Hostilities ceased after the Glorious Revolution of 1688 when the Dutch William of Orange ascended the English throne, bringing peace between the Dutch Republic and England. A deal between the two nations left the spice trade of the East Indies archipelago to the Netherlands and the textiles industry of India to England, but textiles soon overtook spices in terms of profitability.
  
  Peace between England and the Netherlands in 1688 meant the two countries entered the Nine Years' War as allies, but the conflict—waged in Europe and overseas between France, Spain and the Anglo-Dutch alliance—left the English a stronger colonial power than the Dutch, who were forced to devote a larger proportion of their military budget to the costly land war in Europe. The death of Charles II of Spain in 1700 and his bequeathal of Spain and its colonial empire to Philip V of Spain, a grandson of the King of France, raised the prospect of the unification of France, Spain and their respective colonies, an unacceptable state of affairs for England and the other powers of Europe. In 1701, England, Portugal and the Netherlands sided with the Holy Roman Empire against Spain and France in the War of the Spanish Succession, which lasted for thirteen years.