Will the end of Recession in USA Bring Hope to South Asia?

A few days, it was officially announced that recession was finished in the United States. It is a good news for everyone because USA is still the richest country in the world. As far South Asia, this news should bring some hope. South Asian countries are more or less dependent on the U.S. market for their products and services.

One of the main important export earning sectors of India is IT outsourcing. The main market is in America. However, Indian outsourcing companies are still not very excited because jobless rate is still very high in America. As a result the Democrats are now trying to encourage U.S. companies not to outsource their jobs. Even, there is a bill in the Congress the goal of which is to discourage outsourcing.

As for Bangladesh, it should be a sign of hope because the main export earning of the country comes from readymade garments. Any improvement in the U.S. economy is a good news for Bangladesh. The same can be said about Pakistani economy as the country exports textiles to USA.

Thus, while there is hope for south Asian countries with the news that the recession is over in USA, there should not be any dramatic improvement until jobs come back in large number in America.