Studying Flemish history is far from easy and I have to say that my knowledge is not really complete and comprehensive, nevertheless I know a few things.
So let’s start first with the basics: I think for understanding the trade in this part of Europe in general we have to look at the North European Plain. That are the low plains along the eastside of the North Sea and the southside of the Baltic Sea stretching from Calais in France all the way to Belarus. Parts of Eastern England can also be seen as part of this plain. This is not a 100% accurate discription, but good enough for getting a rough idea.
In general the soil of these plains is very fertile and so mainly farmland. During the Middle Ages the food production was high and consistent enough to make urbanisation possible, certainly in Flanders.
Cities mean a concentration of people and so a concentration of skills, talent, networks and so on.
Rivers play an important role in connecting the cities and those of the North European Plain are deep and wide enough for (commercial) shipping. Above all slow moving and so relativily easy to navigate in both directions, what is crucial for trade. Ofcourse the North Sea and the Baltic Sea connect these rivers and so the cities too. So there was a whole lot of interaction between a large group of people in this part of Europe.
Another important factor you have to keep in mind is that you can divide Europe into two main regions and that is the Mediterranean Sea and Northern Europe. I prefer more describing it as the countries influenced by the first and for the latter everything north of it. The rivers Rhine and Danube form the border between the two regions, dating all the way back to the Roman Empire (Germanic Limes). It's influence is still noticeable till today. In general the Mediterranean culture is materialistic, while that of Northern Europe is more to describe as abstract.
Materialistic means things that are visible like (Greek and Roman) architecture, The Roman Catholic Church with the Pope (so a visible leader) representing God on earth, networks in the form of abbeys, food (things you can see, smell and taste) culture and so on.
Abstract means networks, not centrally organised but based on personal networks, agreement and contracts. The uprise of Protestantism that rules out any form of material ideas about God and based on personal (so abstract) relationship. The abstract ideas about money like stock exchange or the value of it based on agreement so you can use paper instead of gold or silver. Democracy, human rights, abstract approach of science and so on.
So all combined forms to my opinon this the bases for commercial organisations like the Hanseatic League and capitalism too as we know today.
My library is not so extensive, but I can recommend Michel Pye’s book: The Edge of the World. He states the North Sea and the surrounding countries as the cradle of the modern world and with that ofcourse capitalism too.