Spain managed to start up the Manila galleon system in the 1560s, linking the Philippines with Mexico. The Spanish crown used its control of non-free labor in New Spain to extract precious metals. On the other side of the arduous journey, Chinese middlemen took these precious metals in exchange for luxury Chinese goods such as porcelain and silks.
While certainly Spanish elites and the Casa de Contratación benefited, the general effects of this trade breakthrough might not have been so obvious to outsiders. Why would those involved in uninsured imports of luxury Chinese goods publicize their valuable shipments? After all, several galleons were indeed raided. But doubtless the other imperial powers of Europe had great interest in Spain's success at breaking up the Portuguese monopoly on China goods.
Did the Spanish Crown initially seek to keep the galleon system hush-hush? How much time elapsed before the other European states learned about it?