1. Globalization is simply the process through which integration and interaction of countries, companies, and people across the globe. What are the consequences of globalization? Globalization not only impacts the way in which sports are conducted and organised but also how they are perceived and what they mean in today's world. Benefits of Economic Globalization. According to a comprehensive study by Newzoo, China’s gaming market is worth $24.4bn as opposed to the US’s $23.6bn. Globalization of production and changes in the work world All developing countries can benefit from the already existing technologies without the need to undergo the stress of developing any particular technology. The rise of the mobile empire can also partially explain the smaller amount of success in handheld -- mobile is a more integral item to more people, and if they can game there they’re less likely to shell out for another dedicated handheld gaming system. Most Global Countries ranking (KOF Index of Globalization, 2011): 1) Belgium (92.6); 2) Austria (91.67); 3) Netherlands (91.17); 4) Sweden (89.26); 5) Switzerland (88.98); 6) Demark (88.96); 7) France (87.65); 8) Hungary (87.62); 9) Portugal (87.28); 10) Ireland (86.45). Only at the national level – say, team USA, team England – where different rules imposed by the Federation Internationale de Football Associations (FIFA) apply. Only last week, UK Premier League football team West Ham United signed their first ever professional FIFA video game player. As Heather Chandler, author of “The Game Localization Handbook” says, it has now become standard procedure for developers to plan to take a game global from the outset, whereas “ten years ago, this was not the case.”. Divide the class into five groups and assign each group one of the following countries: United Kingdom, China, Colombia, Saudi Arabia, and Ghana. The process is as a result of the investment, outsourced manufacturing and international trade. Once in a strategic setting (game theory) one country can raise trade barriers while others do not, it benefits. Corporations in developed nations can gain a competitive edge through globalization. On the contrary, the reputable Entertainment Software Association have determined that average age of American gamers is 35. But just which platforms are being chosen? Globalization involves the increasing integration and interdependence of countries, their peoples, governments, and private sectors. One of the biggest downsides of globalization is the harm it can cause to economies at an early stage of development. And in terms of percentages, the USA actually, sees 49% of adults playing video games. It has helped America win the war on communism. However, if there is no long term plan, or it is badly managed… then benefits are lost, and worse. Why do central banks play an important role in the global economy? Globalization can bring about many benefits, as well as some challenges. Gives Access to a Larger Market. The question is, can greater output be preserved while mitigating the effects of inequality? The benefits of globalization are often debated but have been proved in certain areas. Cultural differences around the world are undeniable. Suppose that similar global mobility of labor were to spill to other professions? Make the best question you can in order to enquire about the situation. During the last 15 years, all English soccer championships but one were won by the so-called “Big Four”: Manchester United, Chelsea, Arsenal and Liverpool. We studied those economies that have made the most economic progress in recent years, and have profited the most from recent trends. The less wired a country is into the global economy, the greater the positive impact of increasing globalization. Globalization of sports refers to the process of expansion of the idea of sport across the world and phenomena is how that are associated with it. Globalization is an established part of the modern world, so most of us do not realize the benefits it brings to our everyday lives—such as easy access to a variety of different cuisines or new technologies developed by countries half a world away. We have to distinguish between short-term and long-term impacts of globalization. The invention of the refrigerated cargo ship or “reefer ship” in the 1870s, for example, allowed for countries like Argentina and Uruguay, to enter their golden age. GameTrack estimates current gamer populations in European countries such as the UK and Germany. Global economic integration has increased dramatically in recent decades. Given that GTA V is also the most successful entertainment product of all time, that’s not so surprising. The Champions league is played annually, and over a five-year period, there theoretically could be 40 different teams in the quarter-finals. Through the process of globalization, the removal of borders allows the people in these areas to experience greater prosperity because each area gains the ability to access what they need. Meanwhile, more women than ever before are gaming, with a split of 59% male to 41% female gamers in America and 58%-42% in the UK. Competition for jobs drives down wages, which helps companies lower their prices. In their Quarter 1 Report for 2016, they estimate that 40% of the UK population between the ages of 11-64 play video games. As a consequence, for example, China ranks only 38 out of all 42 countries for the indicator “exports of goods in relation to GDP”. In fact, this topic is a central theme of the most recent edition of the IMF's World Economic Outlook. Since then, every successive five-year period produced a smaller number of teams, with only 21 in the period ending in 2010. However, experience has shown that countries can also be weakened by globalization. A stint back home would be a condition for extension of work permit, with the system continuing for three or so rounds. Variety is one of the greatest things about the gaming industry, and as the medium grows, we can only hope to see even more innovation and creativity to reflect the diverse cultures and audiences enjoying games. The eSports scene has also been seeing burgeoning success. I believe it is time to question the benefits of globalization. The black line shows the effects on a country’s five-year growth rate from a one-point increase in economic globalization. Even though globalization makes our lives better, it does bring some challenges as companies start to grow and expand across borders. While Britain was the country that benefited most from this globalization, as it had the most capital and technology, others did too, by exporting other goods. The Benefits of Globalization. Because of globalization a lot of companies are … Increase FDI 4. I am not advocating "protectionism". 3. Globalization is … Thus, global mobility in one small market, for top professional soccer players, became almost complete. The consequences of globalization are far from homogeneous: income inequalities, disproportional wealth and trades that benefit parties differently. This allows for less focus on independent rights and economies and much greater focus on world events, local crises, human rights and global development, according to Global Policy. If you’d like to have a look at the full statistics, which I would heartily recommend for some fascinating insight, here’s a list of links to the sources used for this article: Which countries are the biggest gamers? What games are most popular? We've compiled the statistics so you don't have to! AARP -- Video Games: Attitudes and Habits of Adults Age 50-Plus, ISFE GameTrack European Digest: Quarter 1 2016, Statista: Breakdown of US video game sales in 2015, Video Games and their Effect on Modern Day Society, Japan teased the 2020 Summer Olympics with the help of Super Mario, Top 5 Gaming Culture Phenomenons in China and its Impact on Chinese Society, Video Game Culture Takes Hold Across Nigeria, Dota 2's The International - Every Single Match Live on Sky Digital, China Will Lift 13 Year Ban On Video Game and Console Sales, Taiko no Tatsujin: Rhythmic Adventure Pack Review — Skipped Beat, Roblox Robeats Guide: How to Get DJ's Sword of Agility, Roblox All Star Tower Defense Guide: Best Characters Tier List, Top 20 Minecraft 1.16.4 Seeds for November 2020, Marvel's Spider-Man: Miles Morales Review — Our Side of the Tracks, Black Ops Cold War: Zombies Split Screen Fix. What is Friedman's opinion on these individuals? The poorest countries are most likely to be uncomfortably squeezed by any clash of interests amongst the more developed countries. But also, global mobility of labor combined with a capitalist system, in which the richest clubs can buy the best players without salary caps or other limits, concentrates quality more than ever before. It also allowed financial exchanges between companies, changing the paradigm of … Globalization means expanding business on a world-wide level, especially now with the internet and trade options. Globalization is the spread of products, technology, information, and jobs across nations. In soccer, global rules for the World Cup restrict players to playing for their country of origin. Technology and media are always evolving at the cutting edge of innovation. Globalization leads/does not lead to democratization of the international community. And indeed, differences between national teams, most notably at World Cup games, have steadily decreased. World at play: Brazilian-German football player Cacau (Claudemir Jeronimo Barretto), scores a goal for Germany against Australia. Why do the actions of central banks have an important effect on the global economy? We only need to see just how much of a household name Mario has become (or how he made an appearance at the Rio Olympics Closing Ceremony) to see that gaming is more than capable of creating global cultural icons. Look in your bag, at the tags on your clothing, at your cell phone, etc. Disadvantages are- 1. Undermining globalization’s huge benefits are distorting interventions of state capitalism from one direction and anxious politics of an increasingly defensive developed world from the other. The PS4 has topped sales in both the USA and Europe in 2016, followed by Xbox One and 3DS. This paints a very different picture and suggests that, when it comes to proportions of populations engaged in gaming, France is one of the biggest gaming countries. Compared to Xbox One’s 22.3m and Wii U’s 13.3m, it’s pretty safe to say that the PS4 has won this generation’s console war. Everybody … The question of what policies are needed to benefit from globalization has preoccupied economic thinking in recent years. Globalization not only impacts the way in which sports are conducted and organised but also how they are perceived and what they mean in today's world. – YaleGlobal, The game offers lessons for managing movement of talented professionals around the world, Branko Milanovic is a professor at the School of Policy, University of Maryland. Since then, the doors have opened wide and skills in the game have improved, though talent is increasingly concentrated among the wealthiest teams and nations. Online gaming has played a huge role in this. Gaming is marching ever onwards, and each year it reaches more people, makes more money and becomes more ingrained into cultures and societies across the globe. As of 2015, China has become the world’s largest games market, overtaking the USA. COLLEGE PARK:  For many of the billion spectators who watch the soccer World Cup opening in Rustenburg, South Africa, the word “globalization” may have come to mind. Nevertheless, it’s a good indicator of the prominence of gaming in a country’s culture and most definitely worth looking into. Some of the benefits include the exponentially accelerated progress of development, the creation of international awareness and empowerment, and the potential for increased wealth (Abedian 2002). There are fewer opportunities to suppress people at the expense of others so only a few can benefit from success. Nonetheless, globalization "is not a zero-sum game." This concept makes production more efficient, promotes economic growth, and lowers prices of goods and services, making them more affordable especially for lower-income households. In the mid-1970s, that number was around 30. The increasing globalization of gaming is also a part of the general diversification of the medium’s consumer base. However, favorite genre doesn’t necessarily correlate with the overall favorite or top-selling games. The field of sports in the 20th-21st century was influenced by the process of globalization. A Belgian player successfully protested that the rules violated European laws on labor mobility and discrimination. By utilizing best practices, businesses can maximize the benefits of globalization while minimizing any risks associated with globalization. And some of those people are aganist globalization. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Recently, countries in Sub-Saharan Africa have begun to experience the benefits of globalization, and some have led the world in percentage economic growth. From advertisers to spectators, soccer embodies globalization like no other sport. Benefits Of Economic Globalization. The core benefit of globalization is the comparative advantage—that is, the ability of one country to produce goods or services at a lower opportunity cost than other countries. Globalization has produced an integration of production and marketing of goods across national borders. Globalization has/does not have an effect on the formation of one’s identity. And indeed, differences between national teams, most notably at World Cup games, have steadily decreased. Trade, for example, has grown from nearly 40 percent of global GDP in 1990 to 57 percent in 2015. C. The answer to the question is unclear . Globalization provides competition and ensures a greater availability of products and services to consumers. If medical doctors could move with equal ease from Cameroon to Spain or Italy, as Samuel Etoo, the Inter Milan striker did; or engineers could move from Ivory Coast to France and then England, as London Chelsea’s Didier Drogba did? Increase relationship with other country. The day could come when the same eight teams play in the quarterfinals, year in and year out – a trifle boring indeed. Angola, Uganda and Botswana already stand among the ten fastest growing economies globally. There is a big range of countries which benefit from globalization much more than the others, let's say Serbia, Albania or Moldova in Europe, many countries in other parts of the world. They set each country's monetary policies. There is a big range of countries which benefit from globalization much more than the others, let's say Serbia, Albania or Moldova in Europe, many countries in other parts of the world. globalization, and considers what policies LDCs and the international community can implement to increase the share of benefits they receive in this process, while minimizing the costs and risks they bear. Remove demand supply gap. As I said, the actual workings are complicated, but that is the bottom line, and so I think the benefits of globalization are worth the drawbacks. In China, PC gaming is still by far the most popular hardware choice. This lead is only expected to increase as gaming further takes root in China over the coming years. We too should be able to convert the challenges brought by globalization into opportunities for our own benefit. Many developing countries do benefit from globalization but then again, many of such nations do lag behind." To have a real bite, the system would require policy coordination by most rich countries. Globalization is a process through which businesses or other organizations create influence, or develop operations around the world. The market for professional soccer players is, by far, the most globalized labor market. The concentration is greater in Italy: Only once during the last 20 years has a non top-four club won the Italian Serie A. It’s no surprise that the top four Italian clubs, like the top four English clubs, are on the list of the 20 richest clubs in the world. Do all the people from the above countries receive the same benefits? In Spain, Real Madrid and Barcelona shared 17 out of the last 20 championships. They know a thing or two about how to appeal to different cultures. It would seem that this reversal should equalize the outcomes somewhat, particularly as players from small African leagues play in larger English or Spanish leagues, much as a doctor from the developing world returns with skills and connections acquired after an education at Stanford or Yale. At the last three World Cups the average difference in goals per game between winning and losing teams has ranged between 1.2 and 1.3, as opposed to 1.7 some 30 years ago. While the idea seems simple on the surface, it quickly becomes counterintuitive when examined more deeply. As a matter of fact, a Globalization is not new, though. Each of the benefits of globalization, from free trade to the free movement of labor, can also be a downside for specific countries and economies. Unlike at the club level, the top-eight tier among nations competing for the World Cup is more open: Since 1986, at least one “new” national team, which has never before been member of the elite eight, has made it to this august stage: Ukraine in 2006; Senegal, Turkey, South Korea in 2002; Croatia and Denmark in 1998; Romania and Bulgaria in 1994, etc. For each person in the group, try to identify where at least one object you have with you was made. Countries such as Turkey, Iran, and Nigeria all generate hundreds of millions of dollars per year in the games industry so shouldn’t be scoffed at. The decrease is sharper for the top eight national teams: from 1.6 to 1. We use cookies to improve our service for you. 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