Bloomberg has recently published an article focusing on the significant economic risks the world is facing in light of the ongoing conflict in Ukraine, persistent inflation, and escalating prices of fuel and basic commodities. The article highlights the perspectives of three prominent market experts on the upcoming 'next big risk' for the global economy in the next five to ten years.
Abby Joseph Cohen, a former strategist at Goldman Sachs who is now a faculty member at Columbia University, expresses concerns about the shortage of skilled labor and insufficient skills development among students preparing for future roles as scientists, doctors, engineers, and other vital professions. Cohen emphasizes the importance of investing in the future through research, training, and education, while also ensuring the welfare of workers to enhance their families' comfort. Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, warns about the potential emergence of a more destructive virus that could cause even greater devastation than the one caused by COVID-19. He argues that the world failed to learn from the previous pandemic and is unprepared for the next one, which could have severe consequences if it hits us without proper systems in place to protect health and economies. Ken Moelis, founder and CEO of Moelis & Co., predicts a trend toward deglobalization, where nations increasingly focus on self-sufficiency. With current global uncertainties, every country needs to secure its own food and energy supplies, Moelis contends, to avoid severe repercussions in the event of a global crisis such as a sudden surge in oil and gas prices to $200
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