If WotC wants to create a wuxia D&D you can't avoid certain differences. For example in wuxia fiction like "Tiger and Dragon" the martial artists can jump over the roofs or fight on the top of threes, but low level characters can't do it. Of course I would love a halfling monk with super-jump facing against giants.
Japanese publishers should be interested into the Western market. For example the manga Trigun wasn't sold very well in Japan but it was not cancelled thanks American readers who like it. A jidaigeki or tokusatsu version of D&D should be wellcome by the Japaneses becaue this could help to promote their "soft power". South-Korea also should interested into to use D&D as an "icebreaker", a subtle way to make their culture known in the Western society.
If 3PPs can create new monsters, PC species and subclasses for their settings based in Asian cultures, then the card to be played by WotC should be the update of the martial adept classes (3.5 Tome of Battle: Book of nine Swords) but with a simpler and faster gameplay. Let's remember one of the goals for the 5e is to be easy to be understood by the new players. But if the psionic powers haven't returned yet, then the update of the martial maneuver game-mechanics will be late for a looooong time.
And the PC species can't be only "the same doll but with a new hat". Each PC specie has to be designed to be enoughly interesting even to can be the main characters of a new story. And I wouldn't be surprised if the ratfolk were renamed "tari" (the name of the ratfolk in Dark Sun) instead nezumi.
Spiritfolk and korobokuru aren't PC species would be confortable for adventures in urban zones, or the classic clashes between noble houses.
Cultural consultants can be necessary, but my fear these could have got their own prejudices against their neighbour countries, or even against compatriots from the same country but a different region, or the citizens from the capital cities against the people from the rural zones. Some Asians could dare to report certain things about their own societies, for example exaggerated classism or elitism in Korea, or the excessive submission ("the nail that sticks out gets hammered down") in Japanese culture, or the discrimination against the burakumin.
Or our own point of view can radically different, for example about the sense of honor. I am Spanish, and with a serious "taint" about the History of my ancestors. I have had to learn the hard way the true value of honor and the consequences of suffering dishonor. But I have also learnt the great difference between moral integrity and social prestige. Some saints have been executed as criminals (for example saint Thomas Moore, patron of politicians, saint Joan d'Arc or the martyrs of Nagasaki) and prestigious members of the social elites are true monsters who earned their place in the hell.
A "plane" of Magic: the Gathering is based in China, Shenmeng, and if I am not wrong it was created intentionally for the Chinese market, but it hasn't got cards of black mana. (Can you realise the reason?) I suspect Hasbro untrusts the arbitrary criteria of Chinese censorship.
If you are working with a Chinese company, really you are working with the party what controlls the goverment.
