As against all of this, it has to be acknowledged that few bank staff startout with the skill-set needed to implement corporate restructuring: it is a very different business to loan underwriting. And a bank which diverts many of its most effective staff into such activities may not be so effective in fostering new lending relationships.
Their reach has grown during the pandemic and they continue to scale up their services globally with resultant spill-over effects, particularly in emerging and developing countries. As the United States, the European Union and China design governance structures for the Bigtechs, we must not be left behind.