Globalization has clearly affected the ways in which wealthy and powerful states guide their economies While most political no longer subscribe to the hyper globalization thesis that the state is now irrelevant virtually all recognize that state have had to alter their economic and social policies to some extent in response to pressures from rapidly expanding global market forces If this is true for even the relatively powerful and wealthy could the hyper globalization thesis apply to much poorer and less powerful states ? Have they in effect lost economic sovereignty to the global market, or do its effects vary among them as well?