According to Forbes, an American business and financial news company, Beijing and Shanghai, China's two metropolitan centers, are budding as two of the world capitals of the future.

Mumbai, Calgary, Dallas, Dubai, Houston, Moscow, Perth and Sao Pauloare are the other cities included in the list.

The report by Forbes specifies, "In less than a lifetime, we have seen the rapid rise of a host of dynamic new global cities -- and the relative decline of many others. The world capitals of tomorrow may largely be not in the Western world, but in countries such as China, Russia and Australia."

Forbes said that a number of cities, included in the list, were better known for their hardship than their quick construction in the past.

The report explained, "Whereas many of them have not yet surpassed present leading global centers like Tokyo, London, Paris, New York, Chicago, Singapore and Hong Kong in wealth or economic power, they are clearly gaining on them, and with remarkable speed."