Does globalization truly undermine national sovereignty in economic policy-making ?

this is a political economy question, and the university are telling us to use these references compolsury + 3 others optional:
Goddard,Cronin and Dash,ch.13-14
Hirst,Paul and Grahame Thompson, Globalization in Question,Cambridge,UK:Polity press,1999.
Balaam and Veseth,ch.7-8
Polanyi,Karl,The Great Transformation, Beacon Press, 2002(new edition)