By Kim Tae-gyuStaff ReporterIn the aftermath of World War II, the United States helped the rest of the world, in particular Western Europe, reconstruct war-demolished economies through the Marshall Plan begun in 1948.Six decades later, the rest of the world, especially East Asia, may have to come to the rescue of the U.S. so that it can overcome the Wall Street-originated financial crisis.Daewoo Securities managing director Hong Sung-guk, who gained fame by precisely predicting the ongoing global deflation a couple of years ago, calls this idea a ``reverse Marshall Plan.''``Sitting on huge foreign exchange reserves, East Asian countries such as China, Japan, Taiwan and Korea need to step up in order to help out the U.S.,'' Hong said.``For one, they can accelerate the purchase of U.S. bonds to relieve the country's debt burden, which is causing great concern amid the financial distress. This scheme can be dubbed a reverse Marshall Plan,'' the 45-year-old said.As of the end of October, the four Asian nations' combined foreign reserves amounted to $3.374 trillion, with China accounting for more than half with $1.906 trillion.Japan holds the second largest foreign reserves on the planet with $978 billion. Taiwan and Korea come in fourth and sixth with $278 billion and $212 billion, respectively.The four countries have already snapped up a substantial amount of U.S. treasury bonds. According to online encyclopedia Wikipedia, the U.S. has more than $10 trillion in federal debt, or upside of $37,000 per U.S. resident.However, Hong urges the four East Asian nations to buy additional treasury bonds to stabilize the international financial system.``If countries with large foreign reserves do not stage a U.S. recovery plan, under the reverse Marshall Plan, the U.S. may deal with its debt by printing more dollars,'' Hong said.``That means the U.S. will practically go under, although the country cannot default by definition as it can print dollars, the key currency involved in more than 80 percent of global trading,'' he said.Hong's logic: The world should not let the U.S. default in a graceful way, by printing too many dollars.``In my view, the reverse Marshall Plan is already underway. China has no choice but to pick up more U.S. bonds to make the global system stay alive,'' Hong said.``Otherwise, the whole system would come under jeopardy, which is very bad not only for the U.S. but also for China and other Asian countries,'' he said.