The former club captain has taken temporary charge following the sacking of Michael Laudrup.
James told the South Wales Evening Post: "Huw Jenkins and the board have been here before. They gave Roberto Martinez his first job as manager and look what a success he turned out to be.
"There is no way of telling if he will take to the role.
"I have played with numerous players who everyone expected to make fine bosses yet it just wasn't for them.
"Then others that you never considered suitable to take charge turned out to be huge successes.
"You just can't judge until they take the plunge, and Swansea have an incredible amount to lose if Garry sinks rather than swims because they will be relegated out of the Premier League."
For breaking stories and all the great banter like us on Facebook: facebook.com/tribalfootball