As the seventeenth century wound to an end, complacency and costly continental wars caused the Dutch to lose not only New York, but also their place as Europe’s financial and imperial engine. The vacancy was hotly contested by France and Britain. At first France seemed to be in a far stronger position. It was bigger than Britain, richer, more populous, and it possessed a larger and more experienced army. Yet Britain managed to win the trust of the financial system whereas France proved itself unworthy.
Examples of what happens when even powerful nations fall out of favor, or even battle, with global financial gatekeepers...
