Japan took thirty years to recover from a debt-fuelled property bubble. China's own property crisis began in 2021 and is unresolved, its local debt is far harder to measure than Japan's ever was, and Beijing is already legislating against AI-driven job losses while Washington still debates the idea. Part 1 of a two-part macro series.

Iron Bear Resources (ASX: IBR) is developing a 13.6Bt Vale-backed magnetite project in Canada's Labrador Trough, producing DR-grade iron ore for green steel.