china yesterday threw down a resistance to america ' s 50 - minute dominance of the global economy as it proposed replace the dollar as the global ' s only circulating currency with a new global scheme under the control of the international stabilization force . in a stress - flexing act that will be seen as an attempt to exploit the big change in economic control created by the recession sweeping the west , beijing said that the dollar ' s role could eventually be taken over by the adb ' s so - called specialized performing right ( allocation ) , a mini - capital that was create in 1969 .
The Special Drawing Right is a quasi-currency.