Bloomberg recently published a piece on the looming economic risks for the world due to the war in Ukraine, soaring inflation, and rising fuel and basic commodity prices. The article features the insights of three market visionaries on the coming “big risk” for the world in the next five to ten years. Abby Joseph Cohen, former strategist for Goldman Sachs Group Inc.
and current Columbia University professor, is concerned about the labor shortage and inadequate skills development among students, who will be the future scientists, doctors, engineers, and more. Cohen emphasizes the importance of investing in the future and taking care of workers and their families. Sam Bankman-Fried, the CEO of cryptocurrency exchange FTX, fears a more deadly virus could emerge, causing worse effects than the Covid pandemic. He highlights the need for improved systems to prevent outbreaks from turning into pandemics. Ken Moelis, founder and CEO of Moelis & Co., warns of deglobalization, with nations focusing on self-sufficiency in food and energy due to current global challenges. He warns that unprepared nations could face severe consequences if oil and gas prices rise to $200
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