Final answer:
Managers and professionals utilize strategies that include economic and political networking to benefit from globalization. They take advantage of trade liberalization and capital mobility, impacting economies and politics. Governments respond by formulating policies that balance national interests with global engagement.
Step-by-step explanation:
The strategies and effects employed by managers, technocrats, and professionals who move regularly across state boundaries and engage with different nation-state regimes are multifaceted. These individuals and corporations utilize economic and political networks that transcend traditional nation-state boundaries to maximize benefits and circumvent restrictions across different jurisdictions. This involves leveraging lower labor costs, weaker environmental regulations, and favorable financial conditions in different countries. Code-switching, relocation of production facilities, and capital mobility are some of the strategies used that have various effects such as impacting local job markets, increasing inequality, and altering domestic-political landscapes. The movement toward globalization and trade liberalization since the 1990s has accelerated these practices.
In response to transnational economic activities, nation-states have adopted different methods to maximize national interest. These include engaging in selective engagement to secure economic and security interests while avoiding global overreach, promoting multilateral international cooperation for mutual benefits, and developing policies to support innovating companies harnessing global opportunities. All these are done to maximize the nation's geopolitical and economic standing in an increasingly interconnected world.