Bloomberg recently published a piece focusing on the significant economic risks facing the world due to the Ukraine war, escalating inflation, and increasing costs of fuel and essential goods. The article highlighted the perspectives of three market experts on the 'next big risk' expected in the next five to ten years. Abby Joseph Cohen, formerly a strategist at Goldman Sachs Group Inc.
and currently a Columbia University professor, expressed concern over the shortage of skilled labor and inadequate education for future professionals. Cohen emphasized the importance of investing in the future by fostering research, training, and education, and ensuring worker families are comfortable. Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, is worried about the potential for a more catastrophic virus outbreak, one that could cause even greater disruption than the COVID-19 pandemic. He noted that the lessons learned from the last pandemic have not been sufficiently applied, and future systems need to be in place to prevent such occurrences. Ken Moelis, founder and CEO of Moelis & Co., predicts a trend towards deglobalization, where nations are more focused on self-sufficiency in food and energy supplies. He warns that failure to prepare could lead to severe consequences in situations like a $200 per barrel oil price scenario
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