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Bartolomeu Dias
northwest water route .
Portugal did. Bartolomeu Dias was one of the first too.
Italy lost a monopoly
Columbus was actually searching for a direct route to India. The real reason that he had difficulty getting funding was not that people thought the Earth was flat ... it was that most people thought the Earth was about the size it actually is, and that any expedition sailing west would run out of food and fresh water long before it could reach India or China. Columbus thought it was much smaller. As it turns out he was wrong, but he got lucky and ran into other land on the way.