While some people believe this is more realistic, I find that it is far from it especially when it is in a global environment.
While it might be fine for some more multicultural countries like the US or Australia to have guys with names from all over the world, can you imagine a sudden influxes of Jones, Williams, etc (I'm just giving English ones for an example but the same with Spanish and Italian as well) but with a Chinese flag next to their name??
Not too realistic if you ask me. In real life you will find that most players tend to be more closely associated with the country they grew up playing ball rather than the country they are playing ball currently.