No European settlements in the New World?

What would happen to Europe, which was mostly a poor back water at the time, if they could never access the New World, or at least not to the level of total domination that they did?

Assume that the new World still exists, but the natives are more advanced, or at least somehow able to fend off the Europeans, Muslims, Chinese, anyone who tries. What happens to the old world if the Europeans can not pull ahead?
 
By the XVth century, Europe wasn't exactly a poor backwater region. Granted, it had some issues (as being on the edge of monetary starvation), but european mediterranean powers controlled regional and hinterland economy; Portugal was well on its way to Indias; France and England had achieved a certain form of evolution toward modern statehood; Flemish commercial revenues equaled what Peruvian mines produced later...

Giving that Arabo-Islamic world went, since the XIIIth century, trough a continuous decline; you can even say it was the most powerful and dynamic western continuum.

A region in plain economical and demographical boom is going to settle places of interests, would it be only key points.
 
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