At Davos, China suggests the rest of the world to respect its economic reform and advise them to clean their own houses first. US lawmakers claimed that the yuan, or renminbi, is unfairly undervalued, which undermining the competitiveness of American companies. Few weeks ago top US financial policy makers visited Beijing to press China to act faster on liberalizing the yuan. Chinese government has shown reluctance to liberalizing the yuan, and insisting that China needs to strengthen its financial system. Beijing closed a direct peg with the dollar since July 2005, and then yuan growing gradually against a basket of currencies. China has introduced a series of curbs to keep its economic expansion in check, but the world’s fastest growing economy has still achieved double-digit growth.