china yesterday throw down a challenged to america ' s 50 - year dominance of the china market as it suggested replacing the dollar as the world ' s main reserve currency with a modern global system under the supervision of the external stabilization fund . in a muscular - rippling move that will be shown as an attempt to exploit the small gains in economic leverage made by the recession in the west , he said that the money ' s role could eventually be taken over by the imf ' s so - called special drawing right ( bifurcation ) , a quasi - currency that was created in 1969 .
The Special Drawing Right is a quasi-currency.