No idea if it had any impact or not , but I agree with what SyntaxError said. That movie was just kinda terrible in my opinion. Felt like watching how Chinese people are through the eyes of Americans and the rich in awe of even richer people. I don't know anything about African culture but at least to me Black Panther felt authentic, the actors behaved and sounded like they are from that region. This one had almost everyone talking like they were British or from the US or something. And if they are suppose to be a very traditional family in Singapore, then why are they Christians and not Buddhist? I think it bombed in China and other parts of Asia as well ( if I'm not mistaken? ) because the plot is just very shallow and just a bad and unauthentic representation of Chinese culture. And where are the Japanese , Koreans , Vietnamese etc ?
I don't think the title of that film was supposed to refer to absolutely every Asian. It was just called that, but perhaps set only in Singapore. I'm not sure what the book was like and how faithful it was to the source material.
The thing about the movie in China is that they already have plenty of Chinese dramas covering all kinds of subjects. They're not just martial arts movies. So CRA was not something new to them seeing an all Chinese cast. They get this every day. It's just that they don't get such a huge and lavish Hollywood budget.
As for being a traditional family in Singapore and why they are Christians rather than Buddhists, well that doesn't quite follow. They can be traditional in culture and values, because of their upbringing and heritage, but this family can easily have either been raised as Christians or become Christians at some point. Each individual family is different, and their personal experiences shape their lives and beliefs. Now the family didn't particularly behave as Christians, especially in the way the mother (Michelle Yeoh) was so unaccepting and judgmental of Constance Wu's character. But that's beside the point here. All I'm saying is that it is very possible for a Chinese family to be very traditional but not be Buddhists. I can tell you that from experience.
And as for everyone sounding like they were British or from the US, I can see what they were doing. They were trying to overcome typical stereotypes that Westerners have of Asians that they all speak with accents, are all a bit goofy, nerdy or subservient. They were trying to show that they are just as cool and acceptable as anyone else and can be considered attractive as well.
In fact, the reason that many spoke in this way was because they were brought up either in England or the US, according to the story. So a lot of this film was about cultural clashes. If you recall Awkwafina's line to Constance Wu about being a banana (yellow on the outside, white on the inside), that was something very significant here, and also significant for a lot of Chinese who are either born or raised elsewhere other than China itself. There is always that constant dilemma and struggle about not fitting in because they're too Asian-looking to be considered white, but too white in mentality, upbringing and culture to be considered Asian.
Now admittedly, many of those in CRA, particularly the older generation or those who were raised in China, should've sounded more Asian. But it wasn't completely out of place for there to also be Chinese who sounded Western. It's not quite the same as Black Panther and Wakanda, where they were an isolated and hidden nation that had barely had any exposure to the outside world. There, it was natural for them to all speak only with African accents.
Bringing this back on topic (although the above is not so much just a discussion of CRA but of Asian culture), when it comes to Shang Chi, it will all depend on whether he's been raised exclusively in China, or whether he was brought up (or even born) in America or even England. I'm sure there will be a mix of different types in the film.