Asian Americans are penalized for working hard and held to much higher standards than their non-Asian peers in the admission processes for America's elite universities, Xu argues.

Now, the push for "diversity, equity, and inclusion" is expanding beyond universities to virtually every aspect of American life. Schools are abolishing programs for gifted and talented students and lowering standards to get failing students to pass. And there are growing attacks on race-blind admissions systems.

"For the sake of equity, we are dumbing down the best and brightest of our next generation," he says.

Jan Jekielek: Kenny Xu, it's such pleasure to have you back on American Thought Leaders.

Kenny Xu: Thank you so much, Jan.