Well if ya look on most important forms there are loads of races, white, caribean, afro, indian, pakitstani etc etc
Not Racism (as the current law sees it) - i insult/discriminate someone beacause they are USA UK CAN etc etc of who they are based on their country, this is not racism.
The USA UK are multi race countrys , you can't be racist to a country that hasnt got one defined race like that.
eg - I insult an american because he is an american
Racism - To put someone down based on their race (or colour as its also know) nothing more nothing less.
eg - I insult an american because he is black
eg - I insult Arab countries because because i dont like arabs
There i am generalising about the race of the country so ergo racist