James reckons that while the move was good business for the Welsh club, Shelvey is worse off from a football point of view and looks destined to play in the Championship next season.
He argues Shelvey forced his way into the England team as a Swan, but has lost his international place as a result of becoming a Newcastle player.
James says he fervently hopes England boss Roy Hodgson still picks Shelvey for the Euros... and plays him against Wales in Lens on June 16.
"It would be great for Wales if he did," writes James in his column for the South Wales Evening Post.
"Let's just say, I'm not a fan. A £12m move to Tyneside looks good business by Swansea to me.
"Whether the player made the right move is much more dubious. From a financial point of view, I'm sure he's a lot better off, but from a football perspective he looks in a far worse position.
"For me, Newcastle are near certainties for relegation, so Shelvey could well end up playing Championship football next season.
"He left Swansea having forced his way into Hodgson's England squad, but since switching to the north east was left out for recent friendlies against Germany and Holland.
"I can't see any way he will be travelling to France to represent his country this summer. but it would certainly be a boost for Wales if he featured for England when the two sides meet."
James argued Shelvey's departure has led to Gylfi Sigurdsson rediscovering his form for the Swans as they have marched back up the Premier League table.
"The Icelander was being stifled by Shelvey but has more freedom and scored his ninth goal in 14 games against Chelsea," writes James.