Bloomberg recently shared insights from three market visionaries regarding the significant economic risks that the world faces due to the war in Ukraine, soaring inflation, and the rising prices of fuel and basic commodities. Abby Joseph Cohen, a former strategist at Goldman Sachs Group Inc. and now a professor at Columbia University, highlights the shortage of labor and inadequate skills development among students as major concerns.
Cohen emphasizes the need for investments in education and research to ensure future workforce readiness. Sam Bankman-Fried, the CEO of cryptocurrency exchange FTX, expresses his worry about the potential for a more lethal virus outbreak that could cause even greater disruption than the current pandemic. He stresses that the world must learn from past experiences and implement robust systems to prevent future pandemics. Ken Moelis, the founder and CEO of Moelis & Co., points out the trend toward deglobalization, where nations increasingly focus on self-sufficiency in critical resources like food and energy. Moelis warns that nations unprepared for such shifts could face severe consequences if commodity prices rise sharply, such as oil and gas hitting $200 per barrel
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