Asians are not smarter than other people. Genetic and cultural reasons are often given for Asian countries and people doing well, but these are stereotypes built on a history that highlighted successful Asians and ignored those struggling.
The myth of the model minority was created by immigration policies that selected for immigrants from economically and academically successful groups and countries. Presenting Asians as model minorities is a powerful way for dominant groups to assert that racism no longer holds back other minorities, such as black people and Native Americans. Ultimately, Asians do not benefit from these stereotypes and often earn less than their white peers.