Bloomberg recently published an article on the significant economic risks facing the world due to the war in Ukraine, escalating inflation, and rising costs of fuel and basic commodities. The article highlights the perspectives of three prominent market visionaries on “the next big risk” for the world in the next five to ten years.
Abby Joseph Cohen, former strategist at Goldman Sachs and current Columbia University professor, emphasizes the concern over labor shortages and insufficient skills development among students, who will be the future workforce of scientists, doctors, engineers, and more. Cohen stresses the importance of investing in the future through research, training, and education, and ensuring workers are comfortable. Sam Bankman-Fried, CEO of FTX cryptocurrency exchange, warns about the potential for a more deadly and destructive virus to emerge, likely causing even greater devastation than the impact of the previous pandemic. Ken Moelis, founder and CEO of Moelis & Co., expresses worry over the trend of deglobalization, where nations focus inward to secure their own resources like food and energy, to avoid dire consequences from economic instability
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