Salvador was the first colonial capital of Brazil and its central district, Pelourinho, now a UNESCO world heritage site, was the New World's first slave market from 1553, according to UNESCO.
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To see just how hard that can be, consider the case of Salvador de Bahia, for two centuries until 1763 the capital of Portuguese Brazil.
But some of the capital fleeing Brazil has simply been seeking safety against a possible devaluation.
That would have one beneficial effect, by discouraging the inflows of short-term foreign capital that have pushed up the value of Brazil's currency, the real, thereby making Brazil's exports less competitive.
Many Brazilian companies avoided capital spending in the days of protection and hyperinflation, leaving Brazil with only a third as much capital equipment a head as South Korea.
Today is the third day of our focus on Brazil, and it brings us to the city of Salvador, the capital of Bahia state.
In cities like Kathmandu in Nepal, Sao Paulo, Brazil and Dakar, the capital city of Senegal, the channel's PSAs and documentaries about HIV got more people talking about the AIDS virus to the extent that a study by Family Health International showed changes in local behavior.
Huge capital flows have flooded the economies of many emerging markets, Brazil being one of the worst hit.
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Stable asset quality is good, and Brazil has plenty of it, Barclays Capital analysts wrote in three separate reports on Thursday.
The best economic prospects in this region lie in more modestly sized cities like Santiago, the capital of resource-rich Chile, and even Campinas, Brazil, a growing smaller city--with 3 million residents--that lies outside the congested Sao Paolo region.
Operators of the stadium in Brasilia, Brazil's capital city, say the arena is not too far behind schedule, with its opening planned for April 21.
Still, the basic ingredients of Brazil's success agricultural research, capital-intensive large farms, openness to trade and to new farming techniques should work elsewhere.
Pushed to the center of the world stage as one of the most promising destination for capital chasing yields and risk, Brazil has struggled to balance its growth.
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In 1960, Brazil inaugurated its new capital, Brasilia, transferring the seat of national government from Rio de Janeiro.
Brazil has also tried to limit an influx of foreign capital, which has forced the real currency to new highs, making the country's manufacturers less competitive.
Nobody should underestimate the determination of Brazil's officials to resist devaluation or controls on capital outflows, and their willingness to take the pain of tight money.
This is dangerous given Brazil's current financial needs and the unwillingness of international capital markets to finance them.
Key emerging economies, most notably Brazil and Indonesia, are imposing restrictions on the movement of capital, which could greatly disrupt the global money cycle.
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The case for independence has improved now that Brazil's capital markets have reached critical mass, with some of the world's largest equity offerings taking place there.
The coup de grace came in the 1960s, when Brazil's government moved out of Rio and into the new capital, Brasilia, hundreds of miles inland.
For some months now, the big emerging markets of Brazil, Russia, India and China have been discussing providing more capital to the International Monetary Fund above their current quota in order to bail out Europe.
Brasilia , Brazil's planned capital, was built to serve exclusively as the nexus of Brazilian bureaucracy.
The difference is that Brazil's market is open and drawing in enormous amounts of foreign capital, says Citigroup Latin America strategist Geoffrey Dennis.
The difference is that Brazil's market is open and drawing in enormous amounts of foreign capital, says Citigroup (nyse: C - news - people ) Latin America strategist Geoffrey Dennis.
While all of the big emerging markets of Brazil, Russia, India and China are investment grade, risk aversion has kept capital in U.S dollars.
This time, as capital flows to the region slow or reverse, its flexible currencies will take some of the strain: Brazil's real has already edged downwards by 9% or so since the end of March.
Frederico Sampaio, chief investment officer at Franklin Templeton Investments in Brazil, says despite a changing of the guard at the Central Bank and in the capital city of Brasilia, the big picture positives have not changed.
There is a chance that Brazil is heading in the U.S., European and Asian direction now of low cost capital.
Beatriz Nofal, of Eco-Axis, a Buenos Aires business consultancy, points out that all the Mercosur countries, especially Brazil, have used such devices as tax credits on capital-goods imports, which break the principle of a customs union.
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