While I think that volume would matter the most, while also considerin its population and people who actually play Valorant.
Chile, for example, has 19.6 million people.
USA has 333.3 million.
China has 1.412 billion.
Also, we would have to take into account the number of slots in VCT.
Latam has 2 spots for both, Latam South and Latam North; China has a whole league. Obviously, this also depends on the population. (Then again, India has more people than China, but I guess that not as much people play or watch Valorant, so they don't have their own region).
As such, it is much more probable that a country as China develops more talents due to sheer amount of players than Chile. And why I am quite happy for the amount of chilean players attending champions.