My experiences are atypical because I don't really fit the Asian personality type that well.
Physics is a special sub-field because people are generally pretty smart and questions have actual right and wrong answers, so BS doesn't fly very well. Nevertheless, (non-US raised) Asians are at a disadvantage because of language ability and also the tendency to be less aggressive. Other areas of academia have exponentially more BS with predictable consequences for quiet, straight laced Confucian types ;-)
Silicon Valley (the only place I have real private sector experience) is one of the most color-blind places on the planet. There are exceptional and successful Indians, Chinese, etc. and often the smartest guy in the room is a brown guy. Nevertheless, there is a certain type that is considered suitable for a CEO or senior exec. position, and most E. Asians don't have the right personality. S. Asians are more likely to have the right personality, although even in that population it's a bit less common than in the euro population. It is interesting to me that the founders/CEOs that succeed in China tend to be quite different.
Note that expectations become reality. If everyone in the US *thinks* that, e.g., a short or quiet person just can't be an effective leader, then those people will not get the positions, or won't inspire confidence even if they do. In some other culture the very same people might make great leaders.
