U.S. Slips to Third in International Science and Math Competitions
forbes.com
forbes.com
The fact that China's performance in the IMO is so consistent year after year is a bit mind-boggling, to be honest. I suspect that part of their dominance is a heavy focus on algebra, which is all about consistently getting the job done. Top US students are more likely to have studied "fun" math, like combinatorics, geometry, or number theory - and even if you are a superstar at combinatorics, you can still miss an easy combinatorics problem if you happen not to see the right way to look at it.
The US generally looks down on the intellectually skilled at the early-mid education level. The nerd stereotype and low status are derived from that. This, intuitively, has a negative impact on uptake.