Bloomberg has published a piece examining the significant economic risks facing the world due to the ongoing war in Ukraine, escalating inflation, and the increasing costs of fuel and basic commodities. The article highlights the perspectives of three leading market experts on 'the next big risk' for the next five to ten years. Abby Joseph Cohen, formerly a strategist at Goldman Sachs Group Inc.
and now a professor at Columbia University, expresses concern over labor shortages and the inadequate skills development of students, which are vital for future scientific, medical, and engineering roles. Cohen emphasizes the importance of investing in future research, training, and education, and ensuring workers have comfortable family lives. Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, is worried about the potential for a more deadly virus to emerge, causing even worse disruptions than the impact of the COVID-19 pandemic. He argues that lessons learned from the previous pandemic should be applied to prevent future outbreaks from becoming pandemics. Ken Moelis, founder and CEO of Moelis & Co., predicts a trend towards deglobalization, with nations increasingly prioritizing self-sufficiency in food and energy. He warns that without adequate preparation, nations could face severe consequences if oil and gas prices rise to $200 per barrel
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