King Phillip V of Spain was born as the first King of the Spanish Bourbon Dynasty. Second son of Louis the Grand Dauphin and Maria Anna of Bavaria and also the grandson of Louis XIV of France and Maria Teresa of Spain. During his reign, the War of Spanish Succession ( 1701 - 1714 ) occurred. Spain lost Minorca and Gibraltar to Great Britain and Netherlands to the Habsburgs. These losses greatly diminished the Spanish control of the seas and saw the advent of the British as the supreme commanders of the sea and world trade.
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