Peninsulares were Spanish-born individuals residing in the New World or the Spanish East Indies.
Think of a high school exchange student from Spain studying in America. They're still Spanish, but they're living and operating in a different environment - just like the Peninsulares did during colonial times.
Creoles: These were people of pure European descent but who were born in the New World. They often had less power than peninsulares.
Colonialism: This is a system where one country rules over another area as a colony, extracting resources and imposing its culture and values. The peninsulares were part of this system.
Imperialism: This is when a stronger nation works to create an empire by dominating weaker nations economically, politically, culturally, or militarily. The Spanish Empire was an example of imperialism.
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