Americans should welcome investments from Asian countries like Japan and China, which could offer a big boost to the struggling US economy, according to Michael Schuman in a commentary on the website of TIME magazine on Aug 30, 2011.

China and Japan combined own more than $2 trillion of US government debt, writes Schuman, a correspondent for TIME, which is putting them in an?embarrassing situation. For one thing, as the dollar weakens in value, their dollar holdings do as well. For another, it is difficult to switch all of those dollars into other currencies without undermining their value even further.

So there is another option, says Schuman. That is to use these mountains of dollars to buy real assets, like property or shares in companies in the United States, as such acquisitions could make their dollar holdings less vulnerable to the volatile gyrations of financial markets. Also, purchasing real assets like homes could allow Chinese and Japanese investors to benefit from a recovery of the U.S. housing market and overall economy.

Actually, there are already signs of a possible Asian influx, with Chinese investors fanning out around the globe buying real estate, including American homes.

Americans should welcome an Asian invasion with open wallets, notes Schuman, as America needs the cash. "Asian purchases of US homes could help support the beleaguered housing market. Inflows of capital from Asia would also help keep interest rates in the US low, giving more time for the American economy to repair itself and the American government to fix its finances. And it could generate jobs."