Bloomberg has recently published an article discussing the significant economic risks facing the world due to the ongoing war in Ukraine, rising inflation, and the increasing prices of fuel and basic commodities. The piece includes insights from three prominent market visionaries regarding their perspective on 'the next big risk' for the world in the next five to ten years. Abby Joseph Cohen, formerly a strategist at Goldman Sachs Group Inc.
and now a professor at Columbia University, highlights concerns over the shortage of skilled labor and inadequate skills development among young people who will be the future scientists, doctors, engineers, and other professionals. Cohen emphasizes the need for investment in the future through research, training, and education, and stresses the importance of ensuring workers' comfort and their families' welfare. Sam Bankman-Fried, the CEO of cryptocurrency exchange FTX, expresses worry about the potential for a more deadly virus to emerge, causing far greater harm than what was experienced during the Covid-19 pandemic. Bankman-Fried argues that lessons from the previous pandemic were not fully learned, leading to a likely lack of preparedness for future outbreaks. Ken Moelis, founder and CEO of Moelis & Co., predicts a trend towards deglobalization, where nations focus inward to ensure their own self-sufficiency in food and energy. He warns that without such measures, nations may face severe consequences when commodity prices rise sharply, such as when the price of oil and gas reaches $200
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