Bloomberg fully confident of nation's 'enormous potential'

Michael Bloomberg, the former mayor of New York City, has told China Daily he is fully confident the Chinese economy still "has enormous potential".

Speaking in Beijing, the founder of global financial service company Bloomberg LP said it would be "ridiculous" to consider otherwise.

At a time when many have voiced concerns that the Chinese economic slowdown may lead to a global recession, the former politician said he considers growth in the world's second-largest economy is still not losing steam.