The U.S. has long been the richest of the big countries and the biggest of the rich countries. That’s why we have dominated the Olympics in the modern era. But that is about to change. China has four times as many people and is now affluent enough to invest in competitive sports programs, which in the broad scheme of things are frivolous luxury goods. In terms of athletic potential, China is to the U.S. as the U.S. is to Germany. China is going to dominate future Olympics simply because their talent pool is so large. India could match China but India seems not to have much of an athletic culture.
But look at the events China medals in, most are events nobody even cares about. In the main Olympic events they are a non-factor.
Bollywood beats the snot outta’ Hollywood in terms of number of movies made per year.