chinese tonight threw down a challenge to america ' s 50 - year control of the global economy as it proposing replacing the dollar as the world ' s primary reserve currency with a current global network under the control of the international monetary fund . in a muscle - flexing move that will be regarded as an attempt to exploited the little shifts in economic power created by the problems sweeping the west , prc said that the dollar ' s role could eventually be taken over by the camdessus ' s so - called special drawing point ( sdr ) , a quasi - coinage that was started in 1969 .
The Special Drawing Right is a quasi-currency.