Until and unless such ethnicities are established, any derogatory comments accompanied by a description that pretty clearly refers to a RL ethnic group can only be considered as RL racism, pure and simple, and has absolutely no place in this game.
^This is pretty much a perfect opinion. I think you really just have to 'use your head'. Battlemaster tends not to write down every rule of conduct, and expects that you know what respectable means. Even though medieval noblemen can be thought of as blood-thirsty racists, rapists, and extortionists it does not mean we necessarily ought to act that way.
Battlemaster is an international game played by an international community, and we should all respect the sensibilities of each other.