Short-term pain, long-term gain: China's push for tech self-sufficiency

Louise Loo, head of Asia economics at Oxford Economics, says that China's foray into advanced manufacturing and promotion of domestic innovation could exacerbate overcapacity and deflationary pressures, but ultimately the country is playing a long game and hopes to use this as leverage in the future. She also discusses China's push for "high quality growth" and why she has raised her forecasts for the economy.