Lima gained prestige after being designated capital of the Vice royalty of Peru and site of a Real Audiencia in 1543. During the next century it flourished as the centre of an extensive trade network which integrated the Vice royalty with the rest of the Americas, Europe and the Far East. However, the city was not free from dangers; the presence of pirates and privateers in the Pacific Ocean lead to the building of the Lima City Walls between 1684 and 1687. Also in this last year a powerful earthquake destroyed most of the city buildings; the earthquake marked a turning point in the history of Lima as it coincided with a recession in trade and growing economic competition with other cities such as Buenos Aires.
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