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00:00BACK IN. THIRD STORY, HOWARD MARKS WAS THINKING OF MAYBE INVESTING TENTATIVELY IN CHINA ' S NONPERFORMING LOANS. > > THERE IS A BIG PILEUP OF NPL ' S IN CHINA. WE ARE LOOKING AT THOSE. THE NUMBERS ARE VERY VAGUE. EVERYTHING IN CHINA IS REALLY BIG IN TERMS OF NUMBERS. WE HAVE BEEN MOVING INCAUTIOUSLY. WILL CONTINUE TO DO SO. DAVID: RUMOR HAS IT THERE IS A FAIR AMOUNT OF NONPERFORMING LOANS IN CHINA. GOOD IDEA? LANANH: IT SOUNDS LIKE IT IS A GOOD IDEA FOR HIM. THE INTERESTING THING HE SAID WAS THAT CHINA IS LIKE AN ADOLESCENT IN TERMS OF ITS ECONOMIC GROWTH. EUROPE AND JAPAN ARE LIKE SENIOR CITIZENS. THE U.S. IS LIKE AN ADOLESCENT, OR A MATURE ADULT. LISA: HE HAS EXPRESSED CONFIDENCE IN THE FACT THAT THERE IS A LITTLE MORE OF A STRUCTURE AND ENFORCEMENT MECHANISM, SO YOU WILL GET PAID BACK IF YOU GO INTO THE RIGHT LOANS WITH THE RIGHT STRUCTURE. DAVID: YOU CAN ' T ARGUE WITH THE GROWTH, BUT CAN YOU ARGUE WITH THE RULE OF LAW? YOU NEED YOU KNOW YOU CAN GET YOUR MONEY BACK OUT, AND THAT HAS BEEN THE ISSUE WITH CHINA. LANANH: I WILL SAY THEY HAVE A VESTED INTEREST IN TRYING TO MAKE SURE PEOPLE CAN. DAVID: THAT WAS LIKE 25 YEARS AGO WHEN THEY CAME INTO THE WTO. [LAUGHTER] LISA: THAT WAS INCREDIBLE. DAVID: HOW DID THAT WORK OUT? IT MAY HAPPEN. LISA:

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Oaktree Eyes China's Non-Performing Loans

Bloomberg’s Lananh Nguyen discusses Oaktree Capital looking at non-performing loans in China. She speaks with Bloomberg's Lisa Abramowicz and David Westin on "Bloomberg Daybreak: Americas." (Source: Bloomberg)

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