One of the popular things is to do a per capita adjustment to the medal counts, which naturally doesn't favor the US and China at the top. I'm not sure I buy that because even if the US is 10x the size of Canada or 1000x the size of Iceland (to name two that nicely round), in most sports you only get so many entries per nation. The US doesn't get 10x more runners or swimmers or basketball teams in competition than Canada does. If there was no cap, the US would arguably win more swimming and gymnastics medals at a minimum.