We already have the global free flow of capital, goods, information and pollutants in the oceans and atmosphere. At what point do we accept that we already have

We already have the global free flow of capital, goods, information and pollutants in the oceans and atmosphere. At what point do we accept that we already have some aspects of world government and take steps to formalize it. I don't think cultural homogeneity is necessary or even desirable. I quite like Neal Stephenson's idea in Diamond Age of some sort of enforceable world economic protocol.