No, it's used the same way that someone would be Italian-American or Irish-American. It denotes the country of origin that person may be from, although if they were born in the United States it would not be used as they are technically just American. In that case it would be used to trace ancestry or if someone has a dual citizenship.
silly ass chink. let me tell you about your ancestors. you know we introduced rice to your people right? we scared you, we threw the rice at you. yall said, "dont touch it! pick it up with sticks!" - the rest is history
"And oh, the marvel of it! the marvel of it! That tiny men should live and breathe and work, and drive so frail a contrivance of wood and cloth through so tremendous an elemental strife!" -Jack London (The Sea Wolf)