It's commonly asserted that the circumnavigation of Africa made the eastern Mediterranean trade routes from the East to Europe uneconomical, at least by the 16th century or so, thus rendering states like Venice and the Ottoman Empire much less commercially powerful.
My question is this: was this because the new route to India, China and the Spice Islands was inherently better/cheaper/more economical, or was it because of the contemporary instability of the eastern Mediterranean due to the rise of the Ottoman Empire?
I ask because I'm considering a scenario where there's no Ottoman Empire and the old Venetian/Egyptian trade routes aren't disrupted like they were IOTL. I wonder whether this spice route would remain economical for longer had there been a more stable political climate in the Mediterranean at the time and no 'closing' due to war between Spain and the Ottomans.
My question is this: was this because the new route to India, China and the Spice Islands was inherently better/cheaper/more economical, or was it because of the contemporary instability of the eastern Mediterranean due to the rise of the Ottoman Empire?
I ask because I'm considering a scenario where there's no Ottoman Empire and the old Venetian/Egyptian trade routes aren't disrupted like they were IOTL. I wonder whether this spice route would remain economical for longer had there been a more stable political climate in the Mediterranean at the time and no 'closing' due to war between Spain and the Ottomans.