China proposed a new currency to replace the dollar.

Monetary authorities of China have proposed a plan to reform the global financial system, which involves the creation of an international reserve currency. This is stated in the materials published on the site of the Central Bank the country.
In the program of reforming the global financial system, signed by the head of the Central Bank Zhou Syaochuanem (Zhou Xiaochuan), says nothing about the dollar, but on several occasions criticized the current system in which the U.S. dominates the currency market, draws attention to the newspaper The Financial Times.
According to the Central Bank of China, the international reserve currency could be a special drawing right (SDR) - an artificial means of payment IMF, tied to a basket of currencies, and introduced in 1969.
Now SDR is used in the global economy is not very active and linked to four currencies: the dollar, euro, British pound and Japanese yen. China proposes to expand the base currency which is pegged to the value of SDR.
The thesis of a new world currency actively discussed for several months. Supporters of this idea has already been shown to be the President of Kazakhstan Nursultan Nazarbayev and Russian officials. In mid-March, the Kremlin issued his theses to the April meeting of the Greater twenty "(G20). They said that the world needed to create a number of regional financial centers, or to create a supranational reserve currency.
Now, many developing countries with large foreign exchange reserves (including Russia and China) kept money in dollar-denominated securities. American currency devaluation has resulted in the reduced and reserves.