Suffice it to say that if you are going to trust business processes to an offshore provider, you need to keep an eye on the big picture in the country where your provider is located.

It's just common sense -- which admittedly is sometimes lacking in outsourcing efforts or other business partnerships.

How a country's stock markets are doing can play a big part in the financial fortunes of its outsourcing providers. India's bullish market has helped boost the business of its outsourcing firms, helping them grow at a rapid pace.

Worth watching in India are wage inflation, a talent shortage and political volatility in its largest state.

If an equity firm acquires your provider, you can bet that's going to affect your contract with them -- if not now, then somewhere down the line.

Such firms' interest in outsourcing companies is one of expert Ben Trowbridge's trends to watch in 2007, along with the growing popularity of shared services centers and Eastern Europe's emergence as a strong outsourcing contender.

Interestingly, Trowbridge doesn't think China will become a BPO power as quickly as others predict. Why? A low national birthrate, among other issues.

The VP of global procurement at GlaxoSmithKline is another expert paying close attention to broad population trends. For instance, he predicts that Russia's outsourcing industry could struggle as the country is hit by the expected high mortality and low birth rates over the next two decades.

It's a global economy. So base business decisions on global trends.