How India surpassing China as most populous country changes the economic balance of power

Sometime around the end of April, give or take a few weeks—not to mention a few million people—India surpassed China to become the world's largest country by population, a numerical feat that generated headlines around the world. As population horse races goes, they don't get bigger than this. By year's end, the United Nations estimates India's population will reach 1.429 billion, edging out China by roughly one Toronto's worth of people. Bragging rights aside, India's population growth has garnered so much attention for what it means to the balance of economic power in the world. China's spectacular growth, particularly from…