Market Visionaries Warn of Upcoming Major Economic Risks

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ECONOMICS Nouvelles

Economic Risks,Ukraine War,Inflation

Three market experts from Bloomberg caution about significant economic risks in the next five to ten years. Concerns range from labor shortages and inadequate skills development to the potential outbreak of a more deadly virus and nations' self-sufficiency in food and energy.

Bloomberg recently published an article highlighting the significant economic risks the world faces due to the Ukraine war, high inflation, and escalating costs of fuel and essential goods. The article featured insights from three market visionaries addressing “the next big risk” for the world over the next five to ten years. Abby Joseph Cohen, formerly with Goldman Sachs Group Inc.

and now a professor at Columbia University, emphasizes the need for addressing the shortage of qualified labor and enhancing the skills development of students who will become future scientists, doctors, and engineers. She underscores the importance of investing in research and education and ensuring workers' families are comfortable. Sam Bankman-Fried, CEO of FTX cryptocurrency exchange, expresses concern about the potential outbreak of a more deadly virus, which could lead to even more severe consequences than the current pandemic. He notes the lack of preparedness shown during the previous pandemic and suggests that better systems are required to prevent future outbreaks from turning into pandemics. Ken Moelis, founder and CEO of Moelis & Co., warns of a trend towards deglobalization, where nations focus on self-sufficiency regarding food and energy. He expresses concern that if oil and gas prices soar to $200, inadequately prepared nations might face serious economic repercussions

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