Disclaimer: I don't make personal opinions about groups of people, but I do like to read about these things and knowing people's biases makes me understand references in their literature. Where I put things in quotes, I am referring to stereotypes other people use.
It is very hard to call Asians a monolithic group. Watch Hong Kong movies from the 80s and 90s and you'll see that they think of mainlanders as moronic half-wits. People from Hong Kong and Guangdong are literally the same population group with different recent history. The Chinese have long had superiority complexes about their neighbors and varous subgroups of Han Chinese have discriminated against others from time to time. Koreans and Japanese have often treated each other poorly in their own region, and there has been discrimination in Japan toward Korean immigrants. (I'm not sure about the other way in Korea, I haven't studied it at all.) There are big differences in history and lifestyle between coastal China and Southeast Asia. Thailand, for example, has a reputation of its people being "easy-going" and "unambitious", and they have in the past cracked down on Chinese immigrants because they were, perhaps, too successful and not willing to integrate themselves. (They integrated in a jiffy, cf. "World On Fire" by Amy Chua). There are lots of places in the subcontinent where people are "backwards" and "uneducated" because they live a more tribal life. For example, the Hmong, who enjoyed a good existence until their support of the US during the Vietnam war made them targets afterward, and a large number were shipped to the US. Unlike the "model minority" of the Hong Kong/Taiwan Chinese with their "tiger moms" etc, the Hmong community suffers from crime and unemployment. Refugee resettlement is perhaps the most interesting laboratory of immigration because it is not really self-selected. Refugees are usually people who would have stayed in their own country were it not for unfortunate events.
Meanwhile, there are lots of minorities that have the same sort of results in various parts of the world as Asians and Jews have had in the US. For example, Palestinians. They resettle throughout northern Africa, Europe and the US and are usually found operating small businesses. Guyanans, many of whom fled the dictatorship of the 70s, have resettled in the US, Africa and the far East. They also often are running small businesses. Iranians have resettled all around the world, especially in the US and France, and have been very successful.
Focusing on IQ is lame, because there are cultural things that make it work. The ability to quickly form a community of support and to really help each other out is big. How do penniless immigrants manage to open so many businesses? They share the knowledge, encourage each other, and help each other out when they are having trouble. I'm not sure what the average IQ of a Palestinian convenience store owner is. Is it relevant? If it's all IQ, why are immigrants running these businesses and not high-IQ natives? If IQ should get you a job on Wall Street, why aren't these high IQ immigrants getting those jobs instead of running convenience stores? Oh, perhaps there are other obstacles, and many cultural inputs.