What's racist?

I was watching an old  Bill Burr comedy set last night, and this rang my bell.  He was talking about how everything seems to be racist anymore, and cited this restaurant conversation he overheard. Woman, to her companions: "I know this will sound racist, but there really are a lot of Asians here." Burr: Racist?  That's not racist, it's a fkn observation! [...] Blacks have this thing figured out.   It's the order in which the defaming phrase is used. For instance, a Black will say. "So this Asian mother-fucker walked in ..."  Nobody would call that racist.  But whites will say, "So this fuckin' Asian walked in..," and there's a problem.