Facial hair, I'll grant you that, but there is more to looking like Fu Manchu than the facial hair, otherwise a lot of truck-drivers and bikers would be said to look like Fu Manchu. His face hasn't been offensive looking since the sixties.
As for clothes: he was drawn in martial artsy pajamas for most of the 60's. From the 70's through the 80's he looked like this: http://imageshack.us/a/img31/7619/smashingo.jpg
He looks like a comic book supervillian in the above, but not really like Fu Manchu.
In the late eighties he wore a blue armor.
It wasn't until the 90's that he actually started wearing true robes. He started wearing robes in the 90's and stopped wearing them in the nineties as well.
In the 2000's he's worn business suits. http://2.bp.blogspot.com/-J6MScz1STR..._TEN-RINGS.png