Bloomberg recently published a piece on the significant economic risks ahead for the world, highlighted by the ongoing war in Ukraine, soaring inflation, and the escalating prices of fuel and basic commodities. The article featured the perspectives of three leading market experts on the looming risks for the next five to ten years.
Abby Joseph Cohen, a former Goldman Sachs strategist now teaching at Columbia University, is concerned about the shortage of labor and inadequacies in skills development among students. Cohen emphasizes the importance of future investments in research, training, and education to ensure a comfortable future for workers and their families. Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, is worried about the potential for a more deadly virus outbreak, which could have far worse consequences than the current pandemic. He warns that without implementing necessary protective systems, the next outbreak could devastate both economies and societies. Ken Moelis, founder and CEO of Moelis & Co., believes the world is moving towards deglobalization, with nations focusing more on self-sufficiency. He asserts that nations must secure sufficient food and energy supplies to avoid dire consequences in the event of a price spike, such as oil hitting $200 per barrel
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