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Final answer:
King Charles I of Spain and his successors used New Spain's wealth to expand their empire, fight religious wars, and challenge other European powers.
Explanation:
King Charles I of Spain and his successors utilized the wealth from New Spain to consolidate the largest empire in Europe and fight religious wars with Protestants and Muslims. This wealth was also used to purchase luxury items and hire mercenaries for war. Additionally, they sought to challenge Portuguese and Italian influences in Asia through their actions.
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