Actually, Spain expelled the Jews in 1492, and then began its rise to prominence.
Although its armada was defeated in 1588, the Spanish Empire didn’t begin its collapse until Napoleon invaded Spain, leading to the loss of most of its colonies.
The Armada war was the turning point. Or you could say that Queen Mary dying was. England began to eclipse Spain, and rise to Empire.
But also this, I’d Catheine of Argon had been Abel to have a child, then the UK would have been Catholic, and the Colonies as well.