China will be the new USSR in the summer Olympics. The Soviets won the most medals in 1956, 1960, 1968, 1972, 1976, 1980, 1988 (East Germans were second), and 1992 (United Team). There really was no competition. The Soviets kicked our asses. We boycotted the Moscow games in 1980 and they boycotted LA in 1984.
When they start winning some team sports and some meaningful events in Track and Field, other than the 20 km Walk, get back to me.
Unless China does a lot better in Track & Field and some other areas it will be tough for them to reach the medal counts generated by the former USSR -- even after the addition of new medal sports.