The rise of new powers in recent years has led to the theory of economic decoupling. The theory says that, as places like China, India, Brazil, Russia, and to a lesser extent Vietnam and other southeast Asian countries rise, they are less dependent on the American economy. Problems in the American economy therefore matter less to these new powers, as they can always trade with one another. They don't require American capital or even confidence in American economic power and leadership. They've "decoupled." Interesting theory. Except recent events have exposed it to be, what's the word, totally false.