The window opens

The proposal also comes on the heels of new research pointing out that Chinese investment into U.S. companies has had a positive impact on the farthest reaches of small-town America. Over the past 15 years, Chinese firms have spent $46 billion on outbound direct investment (ODI) into the United States, 90 percent of which was made in the past five years. More than 80,000 Americans now work for Chinese-affiliated companies, according to a report--New Neighbors: Chinese Investment in the U.S. by Congressional District--commissioned by the National Committee on United States-China Relations.

Though 78 percent of U.S. congressional districts have a Chinese ODI project, public and political sentiment continues to be suspicious of Chinese investment. According to a 2012 Gallup-China Daily USA Poll, only 23 percent of respondents agreed that Chinese investment into the United States creates growth and jobs, while 32 percent did not agree and 45 percent said they didn't know or had no opinion.

The jobs being created are typically blue-collar manufacturing jobs, but now we are seeing more tech and R&D jobs. Chinese companies are increasingly ready and able to pay market prices for technology assets and spend hundreds of millions of dollars funding R&D at U.S. operations and employing America's best and brightest.

A report published by the Asia Society and Rhodium Group showed that Chinese investment is increasingly targeting U.S. hi-tech sectors. More than $6 billion was invested in the first quarter of 2014 alone, in such fields as automotive, information technology, machinery, aviation and medical devices. Chinese investments have created or sustained more than 25,000 U.S. jobs, according to the report entitled High Tech: The Next Wave of Chinese Investment in America.

Last year saw one of the biggest tech deals between China and the United States ever, with Chinese hardware manufacturer Lenovo snapping up Motorola in January 2014. Motorola went from losses of $384 million in the last quarter of 2013 to profitable revenues of $1.9 billion. Lenovo is now gearing up to launch a new Motorola smartphone this year and has climbed to third place in the global smartphone market with 76 million devices sold in the past year.

Are Unigroup's aspirations for Micron just a "fantasy" as analysts claim? Perhaps, but the trend toward increased M&A activity in the tech market is clear. Unigroup won't be the last company to come knocking on the door of U.S. tech manufacturers needing an infusion of fresh investment.

"This ought to be the most positive new trend in the bilateral economic relationship in several decades," said Daniel Rosen, co-founder of the Rhodium Group during the release of the report. "Unfortunately there have been misapprehensions on both sides that took a really positive story and turned it into an anxious story, a fraught one."

Despite fears that Chinese companies will "steal" patents and intellectual property and shut down U.S. factories in favor of cheaper labor back home, experts say investors usually take a localized approach.

"In most of these cases where Chinese companies come in and acquire a U.S. company, they've actually increased local staff post-acquisition," said Thilo Hanemann, research director at the Rhodium Group. "That's exactly why they come here, because there's a lack of talented staff back in China and they're trying to actively tap the talent here in the United States."

While some U.S. regulators assume the way to maintain America's competitiveness is to control foreign investment at the border, Rosen said the opposite approach is key.

"Nothing could be further from the truth," Rosen said. "In fact, America's long-term competitiveness depends on letting those foreign investors into our economy."

The primary value proposition for most Chinese investors is not a quick grab of patents or other removable physical assets but intangible and non-removable assets such as the skills and know-how of staff, management experience, brands, and proximity to local customers, according to the report.

The key for America's long-term competitiveness is to remain an attractive destination for international investors--in all fields, including tech. An environment governed by fair rules, legal protections, a bright and enterprising workforce, support for R&D, a comfortable middle class and a thriving consumer market will do more to advance U.S. interests than hyped-up fears over a Chinese takeover.