China's stock-market rescue puts spotlight on central bankers' exit strategy

Beijing

EXIT strategies used to be the preoccupation of Pentagon planners. Nowadays, they are more a province for central bank watchers, since the Federal Reserve gorged on trillions of dollars of mortgage and government debt.

And in that economic realm, China has just added a new conundrum. The dependence of the nation's stock market on official support was exposed on Monday with the biggest drop since 2007 amid speculation aid had been dialled back.

The Shanghai Composite Inde…