ENGLISH TEXTS
A strong commitment to a safer , more respectful race , reflecting the evolution of the horse racing industry toward a proactive approach to animal welfare .
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GLOBAL ECONOMY
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IGOR DE MAACK ’ S CHRONICLE
The election of Donald Trump to the presidency of the United States for a second time , as seen by our expert .
The US election has always brought its share of surprises , and this one is no exception . The vote counting remains as complex as ever . The " Phoenix " Republican , Donald Trump , easily won the support of the American people and took control of the Senate . This victory , by a significant margin , crowns a campaign run at full speed . Even Kamala Harris ' s whip strokes , after she took over Joe Biden ’ s faltering campaign , couldn ' t reverse the trend . " By a misunderstanding , it could work ," political commentators and economists will now say .
The stock market , which had already anticipated this outcome , should rejoice , even though Donald Trump ’ s macroeconomic program proves to be protectionist and inflationary . Over the past 50 years , the S & P 500 has always risen except in 2000 and 2008 ( the dot-com bubble and the subprime crisis ). In the six months following Donald Trump ’ s election in 2016 , the S & P 500 increased by 12.1 %. Joe Biden , on the other hand , performed better with a 24.1 % rise in the index . US 10-year interest rates now exceed 4.3 %, which should continue to push the dollar to a level close to 1.05 against the euro . Investors around the world have an interest in seeing America Inc . continue to create wealth , first for itself ( as it has always done ) and for other countries .
The other reason is simple : the entire world ( with China at the forefront ) finances America by purchasing US Treasury bonds and building dollar reserves . For Europeans , the challenges will remain the same : existing as a zone for industrial production and investments , rather than a vast area of savings and real estate wealth . Europe will also need to offer a genuine monetary alternative with a currency ( the euro ) that has helped save the economic zone several times ( 2008-2011 ). However , Europe has become a declining rent if we compare the growth rates of the past 20 years between the United States and the Old Continent . Its economic growth is more reminiscent of a trot ( sometimes brisk ) than a gallop . Pragmatism must remain the guide : global GDP will continue to grow at around 3 % in 2025 , leaving room for companies to create added value . This , therefore , opens the door for performing economic models and attractive investment opportunities .
In France , the announcements of the fiscal law project ( including the proposed surtax on horse racing bets ) confirm the tightening of fiscal policy , with a complex component of spending cuts . However , the consumption environment has improved with the significant drop in gasoline prices . If military conflicts were to end , or at least pause , the multipolar world could find a new path to economic growth . The Republican campaign slogan " Dream Big Again " would then make perfect sense — and it ’ s also the dream we wish for all owners for their horses !
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REPOR- TAGE
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By Emmanuel Roussel et Louise Collet
HARAS DU BERLAIS : WHERE BREEDING AND FRIENDSHIP FLOURISH
The success of Haras du Berlais and its driving force , Jean-Marc Lucas , has become a phenomenon in French jump racing . Their horses are a familiar sight in many top yards , but it ' s the partnership with trainer Robert Collet that has truly blossomed , both professionally and personally . Galorama sat down with this dynamic duo to learn more about their shared passion for jump racing .
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VIDEO When the reunion between trainer and breeder is marked by friendship and anecdotes .
If you ' ve been following the jumps scene at Auteuil , you ' ve undoubtedly noticed the " du Berlais " suffix popping up everywhere . At the recent 48 Hours of Jumps Racing , this Poitou stud ' s progeny were represented in five races , with Hacker du Berlais
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