the orcs are definitely described as being mongolian-like but I disagree with dwarves being jews, I think that stretches it a bit - the haradrim, easterlings, umbar corsairs and the dunlanders are more racist if we're going to pick Tolkien's work apart.

The umbar are described as swarthy and dark skinned, the haradrim are just a pastiche of indian, mongolian and chinese influences, the easterlings seem to be a pastiche of islamic influences with their masks that completely cover their faces except the eyes, their long beards, and how they were originally going to be called the 'swarthy people' - and their's also the idea of these 'cruel, unforgiving people from a place that's probably sandy or something' laced throughout their characterisation. Dunlanders are just supposed to be stupid barbaric people that are probably germanic coded but I can't really remember.

regardless of all the racism that's just under the surface though I personally still really like the books, now if had been really racist I might change my mind, but to me it just seems like its a relic of when it was considered ok to say things like that