I don't agree with your logic ? For one you would be swaping a ETF for a mutual fund that you can't sell out of quickly without a penalty. ECON is emerging market consumer based and China is trying to ramp up consumer spending. SCHE is not geared to the consumer.
You need to do your homework, SCHE is an ETF not a mutual fund. It is the Schwab Emerging Markets ETF with IMO much better exposure to those markets than ECON. Furthermore Schwab clients trade the ETF's for free anytime.