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
Donald Trump revealed on Tuesday he has a secret weapon when it comes to national security: He has the ability to foresee all kinds of terrible things way before they happen.
"Another thing I predicted is terrorism," the Republican presidential candidate said during an event in Myrtle Beach, South Carolina. "Because I can feel it. My father always used to say... everything you touch just turns to gold, and he's got a great sense of location and business and things." The modern-day Nostradamus said that before the Sept. 11, 2001, attacks, he predicted the rising threat of Osama bin Laden in a book, The Washington Post reports. If someone had actually read that book, he believes the World Trade Center would never have been hit. "I saw he was making trouble," Trump said. "He had a big mouth, and he was talking. Not that I know, but I watch, and I see, and I wrote.... That's what it's about: It's about vision, folks.... If we took him out, we would have two beautiful buildings standing there instead of one okay building, all right?"
He reiterated other familiar talking points, including his new claim that he saw American Muslims cheering in New Jersey after the attacks. He insisted there is coverage of the celebrations but the "liberal media" is hiding the evidence, and said he's received "hundreds of phone calls" from people saying they too saw people cheering. Trump also brought onstage a man in the audience dressed like him, saying, "This is what I call a real supporter." Speaking to the man's wife, Trump then asked: "Are you happy with your husband? She said yes! She fantasizes that he's really the real Donald Trump." If Trump predicted that comment would make everyone uncomfortable, he'd be right. Catherine Garcia
Maybe Adele should have started off "Hello" with a ukulele. On Tuesday night, The Tonight Show posted a video of Monday's guest, Adele, singing her hit song in a small greenroom with Jimmy Fallon and The Roots, using a dinky drum machine and a bunch of instruments you might find in a grade school music class. These "classroom instrument" sessions are almost always a great way to show off a singer and the song, and "Hello" suffers little or nothing from being stripped down to, in some cases, acoustic toys. Still, it would be nice if The Roots left the kazoos at home next time. Watch below. Peter Weber
President Obama presented the Presidential Medal of Freedom to several notable names in entertainment, sports, and politics Tuesday, including filmmaker Steven Spielberg, baseball legend Willie Mays, singer and actress Barbra Streisand, and Sen. Barbara Mikulski (D-Md).
Obama said the recipients contributed "to America's strength as a nation," and pointed out the different ways they made a difference in the country. Mays, he said, "helped carry forward the banner of civil rights. It's because of giants like Willie that someone like me could even think about running for president." Spielberg creates films that are "marked by a faith in our common humanity," and NASA mathematician Katherine G. Johnson had the task of calculating trajectories for the first U.S. mission in space and the Apollo 11 moon landing. "If you think your job is pressure-packed, hers meant that forgetting to carry the one might send somebody floating off into the solar system," Obama said.
Other honorees include composer Stephen Sondheim; conductor and violinist Itzhak Perlman; singer Gloria Estefan; music producer Emilio Estefan; veterans activist Bonnie Carroll; singer James Taylor; former Indiana Rep. Lee Hamilton; and former EPA head William Ruckelshaus. Baseball great Yogi Berra; Shirley Chisholm, the first black woman elected to Congress; Indian treaty rights advocate Billy Frank Jr.; and civil rights activist Minoru Yasui were all honored posthumously. Yasui took a stand in 1942 by ignoring the military curfew for Japanese Americans and going for a walk in Portland, and Obama said his legacy has "never been more important. It is a call to our national conscience, a reminder of our enduring obligation to be the land of the free and the home of the brave, an America worthy of his sacrifice." Catherine Garcia
Following the release of a video showing the fatal officer-involved shooting of a black teenager, hundreds of protesters took to the streets of Chicago Tuesday night.
— ABC News Politics (@ABCPolitics) November 25, 2015
— RT (@RT_com) November 25, 2015
— People magazine (@people) November 25, 2015
— CNNgo (@CNNgo) November 25, 2015
Some shouted "16 shots," referring to the number of bullets allegedly fired during the Oct. 20, 2014, shooting of 17-year-old Laquan McDonald, USA Today reports. Others carried posters and called for an end to the violence that has plagued Chicago. Three people have been detained for unknown reasons, WGN reports, and other protesters said they would make their way to 17th and State to show their solidarity. Catherine Garcia
David Canary, a legendary soap opera star who won five Daytime Emmy awards, died Nov. 16 of natural causes in Connecticut. He was 77.
— Kelly Ripa (@KellyRipa) November 24, 2015
Canary was famous for playing twins Adam and Stuart Chandler on All My Children, winning five Outstanding Actor Awards and earning 16 nominations between 1985 and 2008. He started his acting career working in theater in New York before transitioning to film and television. He also appeared in Hombre with Paul Newman and Bonanza, Gunsmoke, Peyton Place, Another World, and Curb Your Enthusiasm.
Talk show host Kelly Ripa, who played Canary's daughter on All My Children, said on Twitter she was "so sad to learn of the passing of the great David Canary. A[n] incredibly talented actor. A wonderful man. I was lucky to know you." Canary is survived by his wife, Maureen; son Christopher; daughter Kathryn; brother John; and one grandson. Catherine Garcia
Hearing cries coming from a nativity scene, a maintenance worker at a Catholic church in Queens, New York, found, tucked away in a manger, a newborn baby.
— New York Daily News (@NYDailyNews) November 24, 2015
Police say the baby was just four or five hours old when he was discovered, swaddled in towels. The Rev. Christopher Heanue of Holy Child Jesus Church said it's likely the infant was in the crèche for about 30 minutes before he was found, and his umbilical cord was still attached. "I believe that this mother came with her child and was able to find in this crèche — a place where Jesus will be welcomed — a place where her child will be welcomed," he told The Wall Street Journal.
Under New York State law, as long as a child is left in a safe place, it is not a crime to abandon a baby, and police still do not know the identity of the mother or whoever dropped off the infant. A couple in the church is interested in adopting the baby, Fr. Heanue said, and the boy would be a "gift to our parish, our community. The Holy Child Jesus, that's our namesake. It's a welcoming home for this child, most especially." Catherine Garcia
The city of Chicago released dashboard camera footage Tuesday evening that shows the fatal shooting of a 17-year-old black teenager in October 2014.
— Chicago Tribune (@chicagotribune) November 24, 2015
The video is six minutes long, and appears to show Laquan McDonald walking down the middle of a street before he is shot. Jason Van Dyke, the officer who allegedly shot McDonald, was charged with first-degree murder Tuesday; prosecutors say he fired 16 rounds at McDonald in roughly 14 seconds, and was reloading when another officer told him to hold his fire, the Chicago Tribune reports.
A court ordered the release of the video after a freelance journalist filed a Freedom of Information Act request, going against the wishes of McDonald's family. "No one understands the anger more than us, but if you choose to speak out, we urge you to be peaceful," the family said in a statement. "Don't resort to violence in Laquan's name. Let his legacy be better than that." Before the video was posted, Chicago Mayor Rahm Emanuel and Police Superintendent Garry McCarthy held a news conference, urging residents to remain calm. "The officer in this case took a young man's life, and he's going to have to account for his actions," McCarthy said. "People have a right to be angry, people have a right to protest. " While he did not predict "doom and gloom," he did say he believed the tape would spark protests. The graphic video can be viewed on the Chicago Tribune website. Catherine Garcia