Editing Glorious Revolution (section)

===The decline of the Dutch Republic===
[[File:Battle of Vigo bay october 23 1702.jpg|upright=1.2|thumb|left|Dutch and English ships at the [[Battle of Vigo Bay]], 1702]]
Having England as an ally meant that the military situation of the Republic was strongly improved, which allowed William to be uncompromising in his position towards France. The Dutch successfully secured and expanded their positions in the Spanish Netherlands, while halting French territorial expansion,{{Sfn|Van Nimwegen|2020|p=354}} but these military campaigns were very expensive. In 1712, at the end of the [[War of the Spanish Succession]], the Republic was financially exhausted and was forced to let its fleet deteriorate, making what was by then the [[Kingdom of Great Britain]] the dominant maritime power of the world.{{Sfn|Vries|Woude|1997|pp=673–687}}

The Dutch economy, already burdened by the high national debt and concomitant high taxation, suffered from the other European states' [[protectionism|protectionist]] policies, which its weakened fleet was no longer able to resist. To make matters worse, the main Dutch trading and banking houses moved much of their activity from Amsterdam to London after 1688. Between 1688 and 1720, world trade dominance shifted from the Republic to Great Britain.{{Sfn|Vries|Woude|1997|pp=673–687}}