Question

International trade has always existed, although it did not create huge volumes of exchanges in antiquity (think of the Phoenicians, and the Athenians). Among them, at the dawn of the Modern Era, the Republic of Venice was especially successful. For centuries it managed to dominate East-West trade, (mostly goods that had traveled from East to West on the “Silk Road” and arrived to the shores of the Eastern Mediterranean), after having acquired control over the sea lanes in the Eastern Mediterranean Sea.

Q: Explain how Venice accomplished this dominant position (3-4 reasons with explain), and why eventually it was lost. (3-4 reasons with explain). Please discuss 1 page

Answer 1

Venice was successful in international trade because of several reasons and series of events which resulted in the unique position Venice enjoyed at that time. The main reasons Venice enjoyed the dominant position was:

First , its strategic geographical location which was an added advantage to the trade. It was in strategic position as compared to other countries and this helped in its trade expansion  

Second Venice had strong trade relations with East due to spice trade which help in expansion of high quality textile mills which helped Venice in establishment of it trade position

Third Venice was able to find the required labour which helped increased the production and henceforth the trade.

Fourth with Marco polo, the silk trade was opened which worked as an excellent route of trade between the east and Venice thereby providing power to the trade in Venice.

These reasons resulted in the dominant position of Venice. Venice eventually lost its dominant position due to the following factors

first due to trade many rich merchants came into being , they decided to control and exercise power in the trade which resulted in its downfall.

second in order to protect the trade routes bases were developed now the main aim became to manage this bases and ports for uninterrupted trade.

But the major drawback of Venice was that instead of following sanctions and the legal systems , it preferred violent means to gain control over the bases it had limited control on.

This affected its security and trade and led to its downfall.

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