Bloomberg has published a piece on the significant economic risks emerging as a result of the ongoing war in Ukraine, high inflation, and increasing costs of fuel and basic goods. The article highlights the perspectives of three market experts on what they consider to be the biggest risk facing the world over the next five to ten years.
Abby Joseph Cohen, once a strategist at Goldman Sachs and now a professor at Columbia University, expresses concerns over labor shortages and suboptimal skills development among young people destined for careers in science, medicine, engineering, and other critical fields. Cohen advocates for substantial investment in education and research and emphasizes the importance of worker well-being. Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, fears the outbreak of a more lethal and destructive virus, potentially causing greater devastation than the impact of the recent pandemic. He argues that lessons learned from the last pandemic have not been effectively applied, leading to a possible lack of preparedness for future outbreaks. Ken Moelis, the founder and CEO of Moelis & Co., sees the world moving towards deglobalization, with nations increasingly focused on self-sufficiency in food and energy. He warns that unprepared countries could face severe consequences if oil and gas prices soar to $200 per barrel
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