This paper examines the effects of Asian peers on non-Asian student achievement in New York City public schools. We use exogenous variation in the share of Asian students across cohorts within schools stemming from a fertility shock among the Asian population in the Chinese year of the Dragon. Results show that a 10-percentage-point increase in the share of Asian students reduces non-Asian math and ELA scores by 0.14 and 0.16 standard deviations. The reduction in achievement is associated with an increase in the share of non-Asian students who fail to demonstrate the skills expected at the grade, especially in math.