I didn't actually watch it, so I didn't know it included anything like that.
The US was not the world's lone hegemony until 1991. If the economies of India and China do get that big, I doubt it'll be much worse than sharing hegemony with the Soviet Union seventeen years ago.
The US and the Soviet Union were pretty much equal in terms of population/workforce. Russia's still very much in the economic picture and now there are two emerging billion-plus nations looking to get in on things, unless I'm missing something, it's going to be pretty different. That was just kind of an aside, the video just mentions that India has more honour students than US has students period.
Either way, there are interesting times ahead. It should be kind of cool to be the generation that gets to see all this stuff unfold but to me it's just pretty daunting.
Also, for you guys who can't watch WMP files:
That's an older version of the video, so it's less flashy and some things are slightly different but the general gist is the same.