Bloomberg has published an article on the major economic risks facing the world in the wake of the war in Ukraine, high inflation, and rising costs of fuel and basic goods. The article features the insights of three prominent market thinkers on 'the next big risk' for the world over the next five to ten years. Abby Joseph Cohen, a former strategist at Goldman Sachs Group Inc.
and current Columbia University professor, is concerned about the labor shortage and inadequate skills development among students who will become the next generation of scientists, doctors, engineers, and more. Cohen emphasizes the importance of investing in the future through research, training, and education, and ensuring workers' families are comfortable. Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, fears the emergence of a more deadly and destructive virus, potentially causing greater harm than the effects of the previous pandemic. He notes that we have not learned from the last pandemic, and are likely unprepared for the next one, lacking the necessary systems to protect our people and economy. Ken Moelis, founder and CEO of Moelis & Co., warns of a trend towards deglobalization, with nations focusing inward to ensure they have enough resources for their own populations. With ongoing global issues, every nation must secure control over their food and energy supplies, or face severe consequences when the price of oil and gas soars
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