De-dollarisation despite Trump: Nations with high debt turning away from dollar to renminbi, Swiss franc

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Despite US President Donald Trump’s threats about ‘dedollarisation’, nations with high debt are turning away from the US dollar over high debt servicing costs and costs of borrowing and are switching to debt in China’s renminbi and Switzerland’s franc. An AI-generated image showing US President Donald Trump with US dollar, Swiss franc, and Chinese renminbi notes. (Representative Image) Even as US President Donald Trump has frequently threatened the international community about ‘dedollarisation’, developing nations have lately started to turn away from US dollar over high debt servicing costs and costs of borrowing. Instead, they have turned to alternatives like China’s...