China the new gold standard?

With 22 gold medals before the midway point, a dozen more than the Americans, China is charging through their Olympics like a true mega-power. Without Michael Phelps and 20 medals in the pool, the U.S. would be seriously behind in the total medals instead of barely trailing 35-34.
Mind now that the American powerhouse track and field team hasn't kicked in yet. That's not a Chinese strength.
And look out Canada down the line if they throw a few hundred thousand athletes at rowing and canoe/kayak.
It's scary, much like the old Soviet bloc programs, when a country can devote millions of dollars and people pushed by a totalitarian regime.