I have never heard anyone say that only white people can be labeled racist. Why would you want to redefine the meaning of the word? It makes absolutely no sense. I hear you, white racism has much larger consequences here in the western world than other forms of racism because it is actually white people in power. But so what? That doesnt change the meaning of the word.
I guess that if some white racist moved to china he would no longer be racist because he has no power there

Im just.. I dont get it...
It is because, as I said earlier, that this entire concept is born of "black people are not racist when they use the N-word". Any extension of the "...cant be racist.." statement beyond that is a misunderstanding. It is not that complicated.
Now, if ya'll want to have a conversation about "racist affirmative action", whereby black people are ALLOWED to be racist, because, come on, give me a break... that is another dialog entierly, and not the same thing as "this isn't racist".