What impact did Emperor Constantine's establishment of the “New Rome” (Constantinople) have on the Roman Empire?
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This new capital was partly due to his decision to adopt Christianity, and partly due to the geography of the Empire. With the new capital, Constantine was able to move his army to many places around the empire in a shorter time with a shorter distance. This would provide him with military advantages, and ensure that supplies were always on hand.. Constantinople provided the city with easy access to the Balkan provinces, and the eastern frontier.
Because the city was on a vital trade route, Constantine was similarly able to control the traffic flowing through the Istanbul Strait. This allowed the new capital to flourish economically, and outreach Rome financially.
Old Rome also suffered from internal conflicts, and external conflicts from barbarian attackers.
So, Constantine basically moved the capital because it had more upsides than downsides. He and the empire would benefit more from moving it than not moving it.