I could argue European's have very low IQs relative to access to resources/wealth - it would be equally stupid and racist but I would have better evidence than you to back it up just by looking at how much they get outcompeted by their Indian origin fellow citizens.
My point is that both ideas are absurd and racist - you claiming that a countries' situation is because of low IQ. You do realize that if you IQ tested people in Europe 100 years ago the results would be godawful right? Believing in genetic superiority/inferiority is extremely low IQ - how do you isolate the million other factors?