Final answer:
Factors such as reductions in transportation costs, advancements in information technology, the digitization of products, and international treaties have all contributed to accelerating internationalization, ultimately leading to greater global economic integration.
Step-by-step explanation:
The factors favoring faster internationalization include a variety of economic and technological developments. Improvements in shipping and air cargo have significantly reduced transportation costs, making it more feasible to operate on an international scale. Additionally, advancements in computing and telecommunications have facilitated the management of long-distance ties in production and sales.
Moreover, many modern products and services can be digitalized, such as computer software, financial advice, and entertainment. This digitization allows products to be easily transported across the globe at minimal costs. International agreements and treaties have also played a critical role by opening up markets and encouraging trade between nations.
Collectively, these factors along with increased education levels and an understanding of material gains from globalization, have led to an escalated level of global integration. These advancements have also heightened the level of competition as firms are not only competing locally but with companies around the world.