As the 2014 World Cup heads towards the final match on July 13, it’s time once again to draw parallels between the world’s largest sporting event and global trade.
Previously, we noted the report produced by Goldman Sachs linking the event with world trade and economics. This time, finance expert Richard Barrington writing in The Huffington Post, suggests there are five ways the World Cup resembles international trade.
“Competition is always a moving target. What seems to be the established order can change quickly, and so defending champion Spain did not make it out of group play at this year’s World Cup, while lightly regarded Costa Rica advanced to the quarter-finals.
“This should be a cautionary tale for both countries and companies that consider themselves world leaders in any area — such status is a target, not an entitlement. The danger of having an upstart eat into market share may seem like a danger of world trade, but ultimately it is the competition that helps keep countries and companies from becoming complacent.”
In addition to the five comparisons he makes, Barrington concludes with another similarity (especially apt for Team USA under the circumstances): Even if you do not always win, there is a lot to be gained just by competing.