Leipzig's history has been shaped by its importance as a trading centre. Initially, its favourable location at the crossroads of trade routes[1] and the privileges granted to its trade fairs gave it its leading position in the trade of goods; later printing and book trade were added. Leipzig was never a royal residence or a bishop's seat, and was always characterised by its bourgeois character. In 1409, the city became the seat of one of the oldest universities in the German-speaking area.[2] Over the last two centuries, Leipzig has experienced strong growth and was for a time the fourth largest German city after Berlin, Hamburg and Breslau, even ahead of Munich. As an industrial location, it has declined in importance since reunification, but continues to assert itself as a trade fair city, a university city and through its cultural heritage.