Obviously, if U.S. political leaders fail miserably on minimizing the extent of simultaneous tax hikes and spending cuts, one shouldn't expect Asian ETFs to escape unharmed. On the other hand, if you've ignored emerging markets for years due to uncertainty about a hard economic landing in China, it's time to take another look. Based on a wide variety of ETF selection criteria , I maintain a healthy allocation to AAXJ as well as an individual country "fave" EWM. The 3.6% annualized dividend yield is two times the 10-year U.S. Treasury. Meanwhile, the country maintains full employment, manageable inflation and steady GDP expansion. Follow @ETFexpertThis article was written by an independent contributor, separate from TheStreet's regular news coverage.