After the Thirty Year”s War Europe implemented a state system” in the Peace of Westphalia in 1648. The Peace of Westphalia brought about a state system in Europe in which all states that participated regarded each other as sovereign and equal. Europe by the 17th century could outperform all others with their superior military tactics and sophisticated weaponry. Europeans could invest money into long-term investments due to the formation of the stock company. A private investor could now invest on a global scale.