china yesterday brought down a challenge to america ' s 50 - % dominance of the global economy as it contemplated replacing the dollar as the world ' s central security system with a new worldwide system under the responsibility of the international economic fund . in a muscle - muscular move that will be see as an attempt to exploit the major gains in economic power formed by the recession sweeping the west , beijing said that the dollar ' s role could eventually be filled over by the imf ' s so - called special drawing right ( kopassus ) , a quasi - currency that was created in 1969 .
The Special Drawing Right is a quasi-currency.