Height is such an advantage in basketball, that the creme that rises to the top would be different (i.e. It may not be the LeBron's, it may be that really athletically gifted kid who didn't grow tall enough to make it out of the AAU circuit), but I do believe we'd dominate like we do in every other sport we take seriously.
Naysayers will point out that other countries have soccer schools that train these kids from a very young age so we wouldn't compete. I disagree, believing if we treated it like basketball with you camps and leagues we'd still rise to the top.