Nice article. The wierd thing about the 'decoupling' theory is that the statistics never supported it. I have been writing about this for years before 2008 here on SeekingAlpha. EEM and other emerging markets funds have always had high Beta relative to the S&P500 and a high correlation to the S&P500. See, for example, this article from May 2006:
Emerging Market ETFs Come Unhinged [View article]
seekingalpha.com/artic...