Bloomberg recently published a piece on the looming economic risks facing the world, considering the war in Ukraine, soaring inflation, and rising fuel and commodity prices. The article featured insights from three market visionaries on the 'next big risk' over the next five to 10 years. Abby Joseph Cohen, former Goldman Sachs Group Inc. strategist and current Columbia University professor, expressed concerns about labor shortages and inadequate skills development among students.
She emphasized the importance of investing in research, training, and education, while ensuring worker well-being. Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, warned about the potential emergence of a more deadly and devastating virus than Covid-19, highlighting the lack of lessons learned from the previous pandemic. He stressed the need for robust systems to protect populations and economies from future outbreaks. Ken Moelis, founder and CEO of Moelis & Co., predicted a trend towards deglobalization, with nations prioritizing self-sufficiency in food and energy. He cautioned that unprepared nations could face severe consequences during global economic shocks, such as soaring oil and gas prices
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