Colloquial term to describe the mass influx of Asians into originally American communities, beginning in the 1970s, but really accelerating in the 1980s and continuing unabated ever since.
It is called an invasion partly because it rhymes with "asian" but also because it was unwanted and unwelcome (nobody asked for or approved of this mass immigration) and because typically instead of assimilating into American culture, the immigrants cling to their own culture, language, cuisine, and customs, to the detriment of the original community, which then moves out to get back to "real America", see
white flight.
The Asian Invasion transforms the community, rendering it a foreign outpost in the US, where if you didn't know, you might think you were somewhere in Asia or India.
Cupertino kid #1: "Hey do you remember when we used to play in the street, there were block parties, American holidays were celebrated, all the neighbors knew each other, and there was a true sense of community here?"
Cupertino kid #2: "Yah, before the Asian Invasion."