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in the years of 1997 and 1998, a strong upside trend has been noted. The increase of employment in the service sector jobs has also been relatively moderate. Only the North African countries have a slower increase of the workforce in the service sector. Thereby to mention is that more woman than men were moving into the service sector. Still, the condensed development process in some of the East and Southeast Asian countries result in the unparalleled move of the population towards the industrialized areas, while the scope of agriculture has been rapidly shortened.

All regions are stronger integrated than before, even the developing countries. Active engagement and proactive decision is needed to put labor market policies at the top of growth to ensure economic progress and to maintain it. Productive employment is the best way out of poverty, which is also stated as one of the target in the Millennium Development Goals (MDG). East Asian countries would continue to experience high growth in trade but most likely not as high as before the crisis. Could another “East Asian miracle” still occur again? That is remained to be seen. Sure is that events such as the financial crisis in 1997 is heightening the consciousness in regionalism to gradually having a change in political mindset and strategies. This also has a vast impact on the labor market as we can see from our case study. Besides, globalization is also interfering with all spheres of life and requiring new solutions everywhere on the globe. Hence, globalization is set to transform the world economy, and with it, the world in many ways.

5.2 Managerial Implication and Future Research
The relationship between globalization and the labor market in East Asia is surely of importance or at least of very great interest for the whole region. Governments, international organizations and companies, among others, need to be aware of the structural interrelations. For sure, the OECD, the IMF and the ILO have great interest to follow up new developments in the background of the ongoing globalization to be able to understand the process of the global economic trends and with it, the restructuring of capitalism around the world. So, they can try to react or give advice on new happenings. Nobody knows exactly where the course of globalization will lead to and what other influences it may have on our labor market and employment situation, on our whole society and our life's. To prevent this ongoing process of globalization to be compared with a ship without a captain, it is in all our interest to monitor new developments and changes. The occurrence of a financial crisis such as the East Asian financial crisis may not be always avoided. However, we have to be able to react and to do structural changes, if necessary. This is in the interest of the world as a whole.

5.3 Research Limitation
Since the topic of globalization and the related points are very broad and complex but very important topic, we focus this case study on the events of the East Asian financial crisis in the late 1990s. To list and to mention all variables related to globalization and to capitalism around the world would go beyond the scope of this paper. Therefore, we were eager to simplify the topic to familiarize and to demonstrate it to the readers in a clearer way while still reflecting some of the most important interrelations. With other words, by selecting this case str