Mongoloid vs Asian

Mongoloid and Asian both are nouns.

Word	Noun	Adjective	Verb	Adverb
Mongoloid	Yes	Yes	No	No
Asian	Yes	Yes	No	No

As nouns, Asian is a hypernym of Mongoloid; that is, Asian is a word with a broader meaning than Mongoloid:

Other hypernyms of Mongoloid include Asiatic.

Mongoloid (noun)	Asian (noun)
a member of the Mongoloid family	a native or inhabitant of Asia

Mongoloid (adjective)	Asian (adjective)
of or pertaining to or characteristic of one of the traditional racial division of humankind including especially peoples of central and eastern Asia	of or relating to or characteristic of Asia or the peoples of Asia or their languages or culture