We introduce an analogue of Bridgeland’s stability conditions for polarised varieties. Much as Bridgeland stability is modelled on slope stability of coherent sheaves, our notion of Z-stability is modelled on the notion of K-stability of polarised varieties. We then introduce an analytic counterpart to stability, through the notion of a Z-critical K"ahler metric, modelled on the constant scalar curvature K"ahler condition. Our main result shows that a polarised variety which is analytically K-semistable and asymptotically Z-stable admits Z-critical K"ahler metrics in the large volume regime. We also prove a local converse, and explain how these results can be viewed in terms of local wall crossing. A special case of our framework gives a manifold analogue of the deformed Hermitian Yang-Mills equation.

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