Bloomberg has released an article discussing major economic risks facing the world due to the ongoing Ukraine conflict, rising inflation, and increasing fuel and basic commodity prices. The article features insights from three market experts on the “next big risk” for the world in the next five to ten years. Abby Joseph Cohen, formerly of Goldman Sachs Group Inc.
and now a Columbia University professor, highlights concerns over labor shortages and underdeveloped skills among young people who will become future scientists, doctors, engineers, and more. Cohen emphasizes the importance of investing in the future through research, training, and education, and ensuring workers' families are comfortable. Sam Bankman-Fried, CEO of FTX, expresses worry about the potential for a more devastating virus to emerge, leading to worse consequences than those seen with the current pandemic. Ken Moelis, founder and CEO of Moelis & Co., predicts a trend towards deglobalization, where nations prioritize self-sufficiency in food and energy amidst global uncertainties, highlighting potential dire consequences if unprepared
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