NHL and Stanley Cup playoffs
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Olympic Games
World Cup of Hockey
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WJC
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U18
Not interested:
World Championships
European Hockey Tour
Spengler Cup
European league play
For me, the emphasis is on the best players in the world playing the best players in the world. The WJC and U18 take a very narrow slice in terms of an age bracket from which to draw players, so it isn't representative of a country's total strength, but it is best on best for that age range and if you look at results for, say, the last five years, it helps to determine which countries are and are not developing talent. The WJC also provides a useful pre-draft look at NHL prospects.