Never even considered ETFs. I am looking at indivudual stocks as they give you much more leverage and the obvious opportunity for increased diversification.
You should read the long twentieth century by Giovanni Arrighi if you want to understand something about the socioeconomics of capital flight. Also read up on Carry Trades, and read John Mauldin's view on a long debt supercycle, which is coming to an end. The emerging Markets are a last ditch attempt to chase after yield before things start to unwind on a grand scale, even more so than 2007-2008. Also look at Drobny's "inside the house of money" as well. Some guys out there articulate a view that you should dump us assets and jump head first into countries where labor is cheap, growth in the form of more people is occuring versus the dynamic of slowing growth or negative growth in places like the us, europe and japan. Its not a trivial problem and I think the best anyone here can do is guide you in the direction of the appropriate tools to discover how financial markets work under the guise of speculation and longer term economic trends.