One opinion voiced (in The Economist) around the 2008 recession was that:
Decoupling does not mean that an American recession will have no impact on developing countries. That would be daft. The point is that their GDP-growth rates will slow by much less than in previous American downturns.
In hindsight, how did this pan out?
I seem to recall that some Eastern European countries, e.g. Estonia (and actually all 3 Baltic states) had a much worse recession in the aftermath than the US did (~15% contraction of GDP for 2009 compared to 2.5% for the US). But how did this alleged decoupling from the US economy fare on average for the emerging markets in aftermath of 2008?
