Take a deep breath. Put aside your nationalism and tell me honestly: In 20 years' time, which city will be the world's financial capital?

New York? London? Dubai? Hong Kong? Shanghai? Mumbai? Or someplace seemingly off the radar today?

Based on the flow of bankers moving out East, Asia's cities seem to be getting a leg up. The credit crunch in the West is forcing financial firms there to tighten their belts and shed thousands of jobs.

Many of these institutions are choosing to relocate some high-fliers abroad to head up new divisions in cities with growing influence over the world economy such as Shanghai and Mumbai.

Goldman Sachs, Citigroup, Credit Suisse, and Morgan Stanley, are hoping to tap the potential in the rapidly expanding emerging markets in an effort to offset a slowdown in more mature economies.

So is this a temporary trend or a sign of the West's waning influence over the global financial industry?

Which city do you think it will be?