What two large processes created such incredible demand for Mexican silver?

Answer 1

The two large processes that created significant demand for Mexican silver were the expansion of global trade networks in the 16th and 17th centuries and the increasing European appetite for precious metals, particularly for use in coinage and luxury goods. The Spanish colonization of the Americas led to the establishment of vast silver mines, such as those in Potosí and Zacatecas, which supplied enormous quantities of silver to Europe and Asia. This influx fueled economic growth and facilitated trade with Asia, particularly in luxury items like silk and spices, further driving demand for silver. Additionally, the rise of mercantilism and the establishment of colonial empires heightened the competition for resources, making silver a critical asset for national wealth and power.