This paper examines the structure of East Asian trade flows over the high-growth period 1970-96. Data for Korea, Malaysia, Indonesia and the Philippines are analysed, using measures of static intra-industry trade (IIT) and of dynamic (marginal) intra-industry trade (MIIT). Inferences are drawn from these results on the basis of the 'smooth adjustment hypothesis', according to which IIT expansion entails relatively low factor-market adjustment costs. The paper concludes that less labour adjustment pressures are being experienced over time in these countries.