Methuen Treaty a popular replacement. Cypher and Dietz, in the book ″The Process of Economic Development″, say that: "Portugal specialized in a commodity that did not have the same growth potential as did cloth for England. Portugal's economy suffered consequently, as the productive structure and institutions were moulded in the direction of wine production. In fact, after trade was rapidly expanded following the Methuen Treaty in 1703, Portugal was left with a sizeable deficit as its exports to England fell short of its imports from England. The boom in Portuguese-English trade fortuitously coincided with a gold rush in Brazil, Portugal's colony, enabling
Treaty of Aix-la-Chapelle (1748) proposed terms of the treaty, which had previously been agreed at the Congress of Breda, and other nations accepted them: For the most part, the Treaty of Aix-la-Chapelle and the War of Austrian Succession concluded status quo ante bellum. In the commercial struggle between Britain and France in the West Indies, Africa, and India, nothing was settled; the treaty was thus no basis for a lasting peace. In France, there was a general resentment at what was seen as a foolish throwing away of advantages (particularly in the Austrian Netherlands, which had largely been conquered by the brilliant strategy of