The allure of gold and silver was a potent driving force for European powers in the New World, especially after reports of vast treasures in the Aztec and Inca empires reached Europe. The Spanish conquests of these empires were significantly motivated by the quest for these precious metals. This thirst led to forced labour systems like encomienda, where natives were exploited in mines, often leading to local rebellions. Additionally, the influx of New World silver into Europe caused price inflations, known as the "Price Revolution", destabilising economies and indirectly causing socio-economic tensions. Moreover, as different European powers sought their share of the wealth, territorial disputes and wars ensued in the Americas.

While economic factors were undeniably a significant motivation behind European colonial pursuits, with the quest for new markets, raw materials, and wealth being paramount, there were other driving factors too. Strategic considerations, such as establishing naval bases or countering rival powers, were vital. The "White Man's Burden" and civilising mission served as ideological reasons, justifying colonialism as a noble endeavour to "civilise" the colonised. Furthermore, national prestige and a sense of competition among European powers played a role. While economic gains were a primary incentive, a blend of strategic, ideological, and nationalistic motivations intertwined in the complex web of European colonialism.

Water, essential for survival and agriculture, has historically been a point of contention. In ancient times, civilisations settled around rivers like the Nile, Indus, and Tigris-Euphrates. Control over these water sources often led to territorial disputes. In more recent history, with increasing scarcity, water has become a strategic resource. Countries sharing transboundary rivers, like the Jordan in the Middle East or the Indus between India and Pakistan, have experienced tensions. The building of dams, redirection of water flow, or over-extraction can cause downstream shortages, leading to diplomatic rows. While not always erupting into full-fledged wars, control and access to water sources have, and continue to, fuel regional tensions and disputes.

Economic sanctions, tools used to coerce a country into changing its policies by restricting trade or financial transactions, often serve as diplomatic pressure points before resorting to military actions. These sanctions can cripple the target country's economy, leading to civil unrest and putting immense pressure on the ruling regime. For instance, prior to the Gulf War in 1990, sanctions were imposed on Iraq following its invasion of Kuwait. When diplomacy and sanctions failed to compel Iraq to withdraw, a coalition of countries led a military intervention. Thus, in many modern conflicts, sanctions serve as the penultimate step, exerting economic pressure to achieve objectives before resorting to war.

Mercantilism, dominant from the 16th to the 18th century, was grounded in the belief that global wealth was finite. Hence, states aimed to achieve a positive balance of trade, exporting more than importing, and accumulating bullion. This drove European powers to establish colonies for raw materials and captive markets. As nations scrambled for territories to exploit, tensions escalated, leading to wars over colonial dominance. Furthermore, to protect their interests, states implemented high tariffs and trade restrictions, often leading to economic conflicts with other mercantile powers. Consequently, mercantilism, with its zero-sum game approach to global wealth, was a direct precursor to many of the early modern period's territorial and economic skirmishes.