Bloomberg has published an article focusing on the significant economic risks facing the world due to the ongoing war in Ukraine, rising inflation, and escalating fuel and basic commodity prices. The article features insights from three market visionaries on the 'next big risk' in the coming five to ten years. Abby Joseph Cohen, previously a strategist at Goldman Sachs Group Inc.
and now a professor at Columbia University, highlights the concern over labor shortages and inadequate skills development among young people destined for careers in science, medicine, and engineering. She emphasizes the importance of investing in research, education, and worker welfare. Sam Bankman-Fried, the CEO of cryptocurrency exchange FTX, expresses worry about the potential for a more lethal virus to emerge, causing even greater disruption than the current pandemic. He points out the failure to implement necessary safeguards despite the lessons from the last pandemic. Ken Moelis, the founder and CEO of Moelis & Co., foresees a trend of deglobalization, with nations prioritizing self-sufficiency in food and energy in response to global uncertainties. This shift could lead to severe consequences for nations unprepared for sudden increases in energy costs
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