This is all a complicated subject, but allow me a few generalizations:
In the United States, Caucasians are a majority, Asians are a minority. This tends to mean that any Caucasian attractiveness based on being seen as "exotic" by Asians doesn't exist, since an Asian can see Caucasians everywhere and in all varieties, including the undesirable. Here, an Asian may also be absorbing traditional U.S. ideas about the superiority of youth and beauty, leading the Asian to compete for the most beautiful just as so many others do. And at the same time, Asian consciousness of being in a discriminated-against minority can lead to resentment and a rejection of Caucasians, especially if the Asian believes that Caucasians belittle him, objectify him excessively, or see him as a disadvantaged last resort for Caucasians in whom other attractive Caucasians aren't interested.
Among gay Asian academic types in the States, an anti-Caucasian or at least an anti-"rice queen" ideology tends to be particularly well developed, even if not always put into practice in real life--especially if the Asian is young and attractive with experience at being desired by young and attractive Caucasians in whom he's interested (sort of the mirror image of being discriminated against and rejected, but with similar attitudinal results).
Conversely, in Asia, Asians are a majority, have comparatively little consciousness of being discriminated against (though they're aware of colonialist attitudes), and may be interested in Caucasians either because of an exotica factor or because of notions borrowed from Hollywood and magazines about what constitutes attractiveness. In addition, traditionally favorable Asian attitudes toward older persons may outweigh the preferences for beautiful youth that are so common in Western culture. Still, in Asia, too, an anti-Caucasian or anti-"rice queen" ideology is common among the academically trained. And again, this ideology is sometimes overlooked when a boyfriend actually is being selected--so occasionally there's still some hope for us Caucasians. :-)
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