Wanlt is correct. Most Chinese do not refer to other Asians as "laowai." In general, "laowai" is used to describe Caucasians but any nationality that is non-Asian, particularly Latin Americans, Middle Easterners and Africans can also be called "laowai."
Non-Chinese Asians are simply referred to by their nationality, such as "Japanese," "Korean," "Vietnamese."
Not sure why Wanlt received a thumbs down for his correct answer ... gave him (her?) a thumbs up to cancel it out.