Bloomberg recently published a piece that highlights the significant economic risks facing the world due to the ongoing war in Ukraine, rampant inflation, and escalating fuel and basic commodity prices. The article features insights from three market experts on the 'next big risk' for the globe in the next five to ten years. Abby Joseph Cohen, former strategist at Goldman Sachs Group Inc.
and current Columbia University professor, expresses concern over a looming labor shortage and inadequate skills development among future professionals. Cohen advocates for investment in training and education to ensure future workers and their families are well-supported. Sam Bankman-Fried, CEO of FTX cryptocurrency exchange, warns of the potential for a more lethal virus to emerge, surpassing the impact of the COVID-19 pandemic. He highlights the need for better preparedness systems to mitigate future health crises. Ken Moelis, founder and CEO of Moelis & Co., forecasts a trend towards deglobalization, where nations prioritize self-sufficiency in food and energy. Moelis warns that failing to prepare for future economic shocks, such as a surge in oil and gas prices, could lead to severe consequences for unprepared nations