The U.S. — the world's largest economy since the 1880s — is on the verge of losing its status as the world's largest economy, and is likely to slip behind China this year, says the International Comparison Program, part of the World Bank.
In 2005, the World Bank estimated China's economy was less than half the size of America's, equaling just 43 percent of America's total output. But in 2011 the research placed China's GDP at 87 percent of the U.S., reflecting China's staggeringly enormous economic growth, as well as an updated methodology on purchasing power parity (the amount of goods and services money buys) that recognizes that money goes much further in developing economies than it does in wealthier economies.
With China's economy now expected to have grown 24 percent between 2011 and 2014 while the U.S. is expected to expand only 7.6 percent in that period, China is on course to overtake the U.S. this year. China has already overtaken the U.S. as the world's largest trading nation.
The new measurements dramatically change the shape of the global economic landscape, emphasizing the importance of developing economies. For example, India becomes the world's third-largest economy having previously been in tenth place. The size of its economy also dramatically expanded from the equivalent of 19 percent of the U.S. economy in 2005 to 37 percent in 2011. Russia, Brazil, Indonesia, and Mexico have also grown significantly.
Of course, the U.S. remains vastly ahead of China in terms of economic activity per person. The U.S. has just 4.44 percent of the world's population, while China has 19.1 percent, so it is unsurprising to see China catch the U.S. in terms of total activity. But in terms of economic activity per person, the U.S. is further down the list, in sixth place behind Qatar, Luxembourg, Norway, Singapore, and Brunei. John Aziz
Gunman reportedly injures several police officers and civilians in attack near Colorado Planned Parenthood
Update 7:28 p.m.: After an hours-long standoff, Colorado Springs Mayor John Suthers said the gunman involved in the Planned Parenthood shooting attacks is in custody. Police say that at least 11 people, including five police officers and civilians, have been transported to hospitals. It is unclear if there were any fatalities in the attacks.
Update 7:05 p.m.: Authorities are evacuating people from the Planned Parenthood building. Meanwhile, police say the standoff with the gunman, who reportedly brought "unspecified items" with him into the building, is ongoing.
Update 4:54 p.m.: After the most recent exchange of gunfire, a fourth officer was found wounded inside a Planned Parenthood clinic. In addition to the officers, police now say that civilians have been injured, and seven people have been transported to the hospital, although it is unclear if that number includes the police officers. While police previously said that the gunman involved was contained, they later confirmed they were still looking for the person.
On Friday afternoon, Colorado Springs police officers responded to reports of an active shooter at a Planned Parenthood clinic, reports the Associated Press, initially notifying residents and the media via Twitter to stay away from the scene because it was not secure. The gunman allegedly barricaded himself inside the building, reportedly injuring at least three police officers before he was eventually contained. Stephanie Talmadge
Only in America: Columbia student claims to be traumatized from the university's white-centric curriculum
A Columbia University student claims that she's been deeply traumatized by reading too many books about white people. Nissy Aya told a university panel that the school's required "core" courses forced her to look at history "through the lens of these powerful, white men." As a result of feeling "no power or agency as a black woman," she said, it will take her six years to graduate.
This weekend, GOP presidential candidate Ben Carson will make a surprise trip to Jordan to tour a Syrian refugee camp, according to the New York Times. His advisers have framed the trip as an effort on Carson's behalf to improve his understanding of the refugee crisis, which has recently come under harsh criticism.
Prepared with Beanie Babies and soccer balls to distribute to the refugee children, Carson's trip will include a tour of the Azraq hospital and clinic near Amman. "I want to hear some of their stories," said Carson. "I find when you have firsthand knowledge of things as opposed to secondhand, it makes a much stronger impression."
Prior to the Nov. 13 terror attacks in Paris, Carson held strong leads in some state and national polls, but his support has waned as national security concerns mount and the neurosurgeon has come under intense fire for his lack of foreign policy knowledge. Last week, Carson's senior foreign policy adviser told the Times in an interview that "nobody has been able to sit down with him and have him get one iota of intelligent information about the Middle East." Stephanie Talmadge
America's second-largest toymaker is "reaching out to that last frontier of consumers: seniors," says Andrew Liszewski at Gizmodo. Hasbro's new Joy for All Companion Pets ($100) promise to provide Grandma or Granddad with hours of virtual companionship in a small, battery-operated package. Three cat models are already available, and each uses motion sensors and light sensors to help it respond to being petted and hugged. You can hear and feel it purring, and it'll even roll over if petted long enough. The concept "might sound a little depressing," but even a lonely septuagenarian can appreciate the appeal of a pet that demands only affection — "not feeding or bathroom breaks."
Ah, Black Friday: the post-Thanksgiving feast day of digestion that is perhaps best known for turning American shoppers into monsters, as they abandon their visiting families to camp outside big box retailers and compete for the best holiday deals. While we all know the basics of the retail-frenzied occasion, many may be surprised to learn the long history of how the biggest shopping day of the year came into its name:
- Since the early 1900s, the post-Thanksgiving weekend has signaled the beginning of the holiday shopping rush, with New York City retailers fully embracing the marketing opportunity in the '20s by releasing Christmas ads and staging events, including a little parade you may have heard of — Macy's Thanksgiving Day Parade — which debuted in 1924.
- In 1939, the holiday had already become so important to merchants that President Franklin D. Roosevelt moved Thanksgiving a week earlier to extend the buying period.
- By the '50s, factory managers began referring to the day as "Black Friday" due to the rampant failure of employees to show up for work.
- Philadelphia's police officers during the '60s used the term to refer to the swaths of jaywalking shoppers who flooded the city's downtown.
- While the term continued to grow in popularity to connote the shopping frenzy, it wasn't until the 80's that the name took on a positive connotation, as shop managers pointed out that the holiday rush put "black ink," signaling profits, rather than loss-signaling red ink, on their revenue reports for the first time all year.
There you have it, but with Black Friday's continued encroaching on its Thanksgiving precursor and increasingly violent reputation, perhaps the name will once again revert to its negative origins. Stephanie Talmadge
Only in America: Arabic-speaking men forced by fellow plane passengers to display contents of carry-on
Two men were booted off a Southwest Airlines flight when a paranoid passenger overheard them speaking Arabic. The men were allowed onto the plane after being questioned by police, but were then forced by other passengers to open a small white box they were carrying — which was full of sweets. "So I shared my baklava with them," said one of the men.
Demonstrators in Chicago protesting the fatal shooting of black teenager Laquan McDonald by a white police officer have scheduled a Friday march in the city's best-known retail district to disrupt Black Friday shopping. The city released several dashcam videos earlier this week showing Officer Jason Van Dyke, who was charged Tuesday with murder, repeatedly shooting the teen. The videos, which oddly capture little audio, touched off two nights of mostly peaceful demonstrations calling for an independent investigation.
Following the charges filed against Van Dyke, Rev. Jesse Jackson held several meetings Wednesday with elected officials and community leaders to form a response to McDonald's killing, reports the Chicago Tribune. "The whole idea is that we need a massive demonstration," Jackson said in an interview. "And a massive quest for justice." Stephanie Talmadge