Specific aspects of international economic integration and globalization

There are some measurements to estimate how globalized the world and individual nations are. It ranks countries in terms of three broad categories:

Economic globalization: long-distance flows of goods, capital and services as well as information and perceptions describing market exchange;

Social globalization: spread of ideas, people, cultures and traditions;

Political globalization: expansion of government policies (measured by things like number of embassies in a country, membership in international organizations, participation in United Nations peace missions and like these kinds of concepts).

There are some requirements and conditions so that international economic integration can happen:

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  the participants joining integration shouldn’t be far from each other geographically, otherwise they cannot get better off in trade due to some problems like logistic problems;
  
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  the cultures and traditions of them should be similar to each other;
  
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  they should have identical opinions and positions on the economic and political stage of the world;
  
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  the social well-being and the income level should be either similar or close to each other;
  
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  they should engage in the world market as a team, not as opponents.