BEIJING, Feb 13 -- Never has China's economic growth attracted so much global attention. The shock waves from the financial crisis   that started in the United States have spread across the entire world, sending developed nations, including Japan and those of Europe, into serious recession . The world is now holding out hope that China, with its massive potential, will serve as the engine to fuel global economic growth. But China's real economic growth slowed sharply to 6.8 percent in the October-December quarter. For China, this rate of economic expansion must be as disappointing as negative growth is for Japan. Beijing has set an official goal of achieving a minimum annual growth rate of 8 percent -- a pace it regards as important to ensuring job security. The Chinese government is apparently confident the nation will achieve the minimum growth target of 8 percent in 2009. At the World Economic Forum's annual meeting of political and business leaders in Davos, Switzerland, Chinese Premier Wen Jiabao stressed the Chinese economy began to show signs of recovery late last year. Last week, however, the International Monetary Fund predicted that China's economic growth in 2009 will be 6.7 percent. China's economic outlook is likely to keep both hope and anxiety for the time being. China's impressive economic growth has been fueled by swelling exports and massive investment  in equipment to produce goods for overseas. But the US, Japanese and European economies, which have absorbed the bulk  of China's exports, are expected to shrink simultaneous in 2009, for the first time since the end of World War II. For the first time since it started serious efforts to turn itself into a market economy in the 1990s, China is facing the challenge of maintaining healthy economic growth without depending on external demand. Expansion of domestic   demand holds a key to China's success in tackling this challenge. Consumer spending accounts for only 35 percent of China's gross  ) domestic product. The ratio  is considerably lower than the 70 percent for the United States and the nearly 60 percent for Japan. That is because the middle class - the group that should lead consumer spending - is still relatively small in China, where the benefits of the nation's strong economic growth in recent years have mostly eluded rural villages and low-income earners. What's the best title of the passage?
Economic change, the only hope for china. China has attracted much global attention. China, the engine to fuel global economic growth. The financial crisis has influenced China's economy.