England just got corsica - which let them stack some fleet and army there. If they would DOW me, it could mean they would raid my provinces, block my ports, and run back to this province to distract me. Also as there is before they have biggest army in europe(while they have not a single colony because i managed to colonize everything in range before they even thought about colonizing). Both those things mean, that if they would attack me, their armies are more consolidated - which means they can easily bring about 20k onto spain... and i have about 20k there... or less... and they just annexed corsica... also i am surrounded by enemies - milan, france, england... and they look scary. I think the only reason they don't attack me is because i have biggest fleet of the world, despite the fact it is scattered all over the world, which means if they would attack me i would be easily taken down... and i am already minting at max to not get bankrupt (yeah the colonies are expensive...).