It really depends on how you define racism.
Modern racism is a f****** joke. I don't hold any respect for people who claim this type of racism. If you are of a certain ethnicity than you shouldn't be offended if I call you that ethnicity. Say you call me "whitey", I don't find that offensive because, although its rude, it doesn't mean anything.
If xxRivenMaster69xx calls out in chat "You F****** N*****!", despite being very rude it does not have any meaning aside from showing frustration. Considering this racist is fallacious and idiotic.
Classical racism, the "you have a different skin colour than us and are therefore inferior" version, is indeed horrible, and has lead to some terrible things in human history.
Such as the opium wars, the western african slave trade (remember slavery was a thing LONG before technological advancement, and in fact still exists today in some third world countries), and Japanese imperialism.
The ENTIRE reason Japan was so eager to gain an empire was to prove to the west that they were equals. This happening only after the enforced trade deals from western countries with massive naval power exploiting what we're at the time seen as inferior people.
So, in the first context no. Calling someone African American, Japanese, Indian, Chinese, Polish, Spanish, or any other of the races should not be reportable in any sense because it doesn't necessarily notate someone's opinions on race superiority, however stating anything to do with superiority, like (for example) "go back to sh****** in the jungle you monkey." directly degrades an individual for their unchangeable apperance and/or history and should be banned.
Ps: If someone declares you to be of any origin, and you take offence to it, that makes YOU the racist because you see that race and those who are it as less than what you are.