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In the sixteenth century, Venice was a powerful economic hub characterized by its thriving trade network, strategic maritime position, and dominance in the Mediterranean. The city benefited from its extensive commerce in spices, silk, and other luxury goods, facilitated by a strong fleet and well-established trading routes. However, competition from other emerging powers, such as the Ottoman Empire and later, the Spanish and Portuguese, began to challenge Venice's economic supremacy. Despite these challenges, Venice remained a vibrant center of wealth and culture throughout the century.

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