The novel coronavirus pandemic, which causes COVID-19, is affecting the lives of millions of people, and we are already seeing the impact it has and will continue to have in the global economy.

With the stock market falling, and several businesses paralyzed, how prepared is the Nearshore industry to deal with this crisis, from an economic perspective? A McKinsey & Company report states that the way this crisis will affect the global economy has three possible scenarios: a quick recovery, a global slowdown, and a pandemic-driven crisis.

If there’s a quick recovery, the report predicts a 2.0% to 2.5% GDP growth for 2020. In the slowdown report, the global economy could shrink by 0.5% to 1.5%. It is still too soon to predict the effects of a pandemic-driven recession.

In this video, the visual companion to our The Exchange COVID-19 special, two Nearshore executives discuss how they are preparing to mitigate the impact of this crisis.