This "financial intermediation view" of credit, in my opinion, illustrates the importance of supporting the availability of all forms of lending, whether it be on-balance-sheet lending by banks, credit originated by banks and securitized and sold to investors, or credit supplied by nonbank lenders.
Supply chains will need to rely more on digitalization and automation to exploit real-time data to allow fast and flexible production and stock policies. Dani Rodrik wrote in April, “Crises come in two variants: those for which we could not have prepared, because no one had anticipated them, and those for which we should have been prepared, because they were in fact expected.