Winnie the Pooh is also Xi Xinping's nickname on Chinese bloggers. It was a way to avoid Chinese Censors and still talk about him without explicitly getting disappeared by the Chinese secret police. It worked for a while, but the jig is up and everyone knows that Pooh is codeword for Xi now.
Its a nickname embraced by Chinese specifically. Its not racist at all but instead its us Americans trolling Xi Xinping by taking an codeword/insult used by the internal Chinese dissenters.