There's an elephant in the room that I don't think people are pointing out. Let's say that Byzantium won the battle of Manzikert. Let's say Byzantium wasn't ruled by feckless aristocrats and doomed emperors. Where did the wealth of Constantinople originally come from? From being a link of east to west. The Ottomans were clearly not on good terms with Byzantium, and trade through them was unlikely. The Mongol Khanates, which had, for a time, revitalized east to west trade, were falling. And, just 39 years after the actual fall of Constantinople, a Genoan sailed all the way west to find the east. Even if Byzantium had survived in a modicum of what it had been, even if it had been more stable and united than it had been, it would have never seen a return to the glory days. Trade and power were shifting from the Mediterranean and land routes to the Atlantic. Byzantium's one great strength, it's strategic position on trade routes, would be rendered far less significant than it used to be. Further, the rise of Austria would have actually made their position quite compromising- they would have had a large, aggressive, heretical power competing for the Balkans, and a large, aggressive, heathen power competing for Anatolia and Byzantium itself. The odds of Byzantium returning to its former glory were nearly zero.
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