Bloomberg has recently published an article on the significant economic risks facing the world due to the ongoing conflict in Ukraine, escalating inflation, and increasing prices of fuel and essential commodities. The piece features insights from three prominent market visionaries on the “next big risk” anticipated in the coming five to ten years. Abby Joseph Cohen, previously a strategist at Goldman Sachs Group Inc.
and now a professor at Columbia University, highlights her concern over the labor shortage and the inadequacy in developing the necessary skills among students who will become the future scientists, doctors, engineers, and more. She emphasizes the importance of investing in the future through research, training, and education, and ensuring that workers are comfortable. Sam Bankman-Fried, the CEO of cryptocurrency exchange FTX, expresses worry about a more lethal virus being released into the world, which could cause far worse consequences than the ones brought by the Covid pandemic. He notes that the lessons from the previous pandemic have not been learned, and future systems should be in place to prevent outbreaks from becoming pandemics. Ken Moelis, founder and CEO of Moelis & Co., predicts a trend towards deglobalization, where nations focus on their own self-sufficiency in terms of food and energy. He warns that with the current global situation, nations must ensure they have control over these resources, as the rising price of oil and gas could lead to severe consequences for unprepared nations
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