BIS Warning, South Korea's 'Mega Projects' | Bloomberg Daybreak: Asia Edition | 29 Jun 2026

**1. Executive Briefing (TL;DR)** - **The Core Thesis:** The global economy faces escalating risks from narrow market concentration, high leverage, and a lack of a margin of safety in the AI capex cycle. Structural inflation volatility, rising chip prices, and tightening global credit conditions are threatening corporate margins and challenging historical asset valuations, creating a K-shaped bifurcation across…