It's bogus to compare nations, really. It's apples and oranges. In America, K-12 has tons of immigrants who are not yet acculturated and do not have excellent English. And when it comes to college, America aspires to send everybody there, not just the scholarly. Why? Don't ask me. A credential I guess. Thus it makes no sense to compare with places like Finland or Singapore, or places like the UK with high bars for university entry and without mass-market schools.
As Schneiderman asks, How good are American universities? How can you tell?
The main NYT article is Americans Think We Have the World’s Best Colleges. We Don’t.