Lose one word, gain another. The list of slurs is endless and most of them we wouldn't even know were slurs - all cultures have demeaning terms for people from another ethnic background. It's always been that way.
It will probably remain so. Is 'Caucasian' racist? How about 'white Caucasian' - just curious since I am one, apparently?
What about 'Bule' - used in Indonesia to describe a foreigner, often Caucasian.
'Chees-eating surrender monkey' - guess!
'Redlegs' - labourer-class whites in Barbados, derogatory term
Are they racist or just insulting?