But as far as I know China isn't taking down Obama-Tigger comparisons. So Chinese netizens are also sticking with the Xi-Pooh comparison (otherwise China wouldn't bother taking it down anymore), which doesn't seem to match with what you're describing as likely intent, nor with who is making the comparisons.

You seem pretty convinced it's mostly racist westerners using the meme, but do you have anything other than a gut feeling to back this up? Because the actions of the Chinese government seem to suggest it's mostly a domestic problem to them. And for those Chinese users it seems to have taken off as a way to avoid the censors (which is now ineffective, and has morphed into a point of principle).