Zhou Bo, senior fellow at the Center for International Security and Strategy at Tsinghua University, shared his insights on China's defense budget.

Zhou said that the increase in the budget is very much normal, and "we can afford to invest our own money in our own defense." He also believes the big consensus between China and the U.S. is about possible cooperation on climate change, but there is another area which is less mentioned, that is risk reduction or avoiding military confrontation.