Pedestrians walk along Briggate in Leeds, UK, on February 17. As governments begin to withdraw their policy support as Covid-19 case numbers fall, there’s a danger businesses kept afloat by government largesse will not survive. Photo: Bloomberg Pedestrians walk along Briggate in Leeds, UK, on February 17. As governments begin to withdraw their policy support as Covid-19 case numbers fall, there’s a danger businesses kept afloat by government largesse will not survive. Photo: Bloomberg
Pedestrians walk along Briggate in Leeds, UK, on February 17. As governments begin to withdraw their policy support as Covid-19 case numbers fall, there’s a danger businesses kept afloat by government largesse will not survive. Photo: Bloomberg
William R. Rhodes
Opinion

Opinion

The View by William R. Rhodes and Stuart P.M. Mackintosh

Why central banks must handle the shift to a post-coronavirus pandemic normal with extreme care

  • Advanced economies must at some point begin to wind down their massive monetary and fiscal policy support to sustain recovery
  • Yet market corrections, business failures and economic contagion arising from a shadow banking or debt crisis could all torpedo the fragile recovery

William R. RhodesStuart P.M. Mackintosh
William R. Rhodes  and Stuart P.M. Mackintosh

Updated: 3:36am, 5 Mar, 2021

Why you can trust SCMP
Pedestrians walk along Briggate in Leeds, UK, on February 17. As governments begin to withdraw their policy support as Covid-19 case numbers fall, there’s a danger businesses kept afloat by government largesse will not survive. Photo: Bloomberg Pedestrians walk along Briggate in Leeds, UK, on February 17. As governments begin to withdraw their policy support as Covid-19 case numbers fall, there’s a danger businesses kept afloat by government largesse will not survive. Photo: Bloomberg
Pedestrians walk along Briggate in Leeds, UK, on February 17. As governments begin to withdraw their policy support as Covid-19 case numbers fall, there’s a danger businesses kept afloat by government largesse will not survive. Photo: Bloomberg
READ FULL ARTICLE
William R. Rhodes

William R. Rhodes

William R. Rhodes, a former chairman, CEO and president of Citibank, is president and CEO of William R. Rhodes Global Advisors, LLC, and author of Banker to the World: Leadership Lessons from the Front Lines of Global Finance.

Stuart P.M. Mackintosh

Stuart P.M. Mackintosh

Stuart P.M. Mackintosh is executive director of the Group of Thirty.