ºÃÉ«tv

"I feel like because of who I am and because of the faces that we have, we're inherently seen as more risky, even though that's not the case," Liu says while promoting his new show "The Copenhagen Test."

He rattles off a list of recent Asian-centred projects: "Crazy Rich Asians," "Minari," "The Farewell," "Past Lives," "Everything Everywhere All at Once" — all critical or commercial successes, many wildly profitable.

"We're anything but risky," the China-born, Toronto-bred Liu says.

He adds 2021's "Shang-Chi and the Legend of the Ten Rings," the Marvel film he starred in, to that list. It grossed $432 million worldwide, becoming one of the pandemic's biggest hits. 

In the intervening years, he's also dipped his toe into voice acting, with roles in "Gremlins: The Wild Batch" and "Invincible"; music, releasing an EP in 2023; reality TV, as a guest judge on "Dragons Den"; and a host, first of the Juno Awards in 2022 and 2023 and then of the People's Choice Awards in 2024. 

Meanwhile, he also serves as chief content officer of MiLa, a soup dumpling company, and global ambassador to fintech startup Unlimit.

But while he's stayed busy with supporting roles — including a memorable turn as a Ken doll in 2023's "Barbie" — he says top billing has remained elusive. 

As studios pull back on spending, Liu says, they're reverting to what feels familiar. 

"When any industry experiences these moments of recession, decision-makers default back to what they know and what they feel is less risky," he says. 

"Most of the key decision-makers in Hollywood are still white. That's just the reality."

That sense of being second-guessed is built directly into "The Copenhagen Test," a dystopian spy thriller that sees Liu return to the leading-man slot.

He plays Alexander Hale, a Chinese-American government intelligence analyst whose brain has been hacked. Working with Melissa Barrera's operative Michelle, he tries to clear his name while figuring out who's breached his mind. 

Created by Thomas Brandon and executive produced by James Wan and Liu, the Toronto-shot series streams Thursday on StackTV and premieres on Showcase Jan. 6.

Liu says he was drawn not only to the premise, but to how directly the show engages immigrant identity — without reducing the character to it.

"The cherry on top was that this role was intended for someone who was non-white, and that his experience as a first-generation immigrant actually informed how he's treated."

In the pilot, Hale is passed over for an opportunity and told that coming from an immigrant family adds "extra risk." Liu says the moment reflects a reality many immigrants face.

"We're always being second-guessed," he says. "'Are they really from here? Are they really one of us?' There's a lot of that happening in the world right now."

That suspicion, Liu argues, is now creeping back into Hollywood — even after recent gains for BIPOC representation.

"I feel the same way as Alexander Hale in the pilot episode," he says.

While Asian representation on screen grew from 2007 to 2024, those gains were erased between 2023 and 2024, according to a recent study by the USC's Annenberg Inclusion Initiative. Speaking roles for Asian characters fell from 18.4 per cent in 2023 to 13.5 per cent in 2024, while white characters rose from 55.7 per cent to 63.6 per cent over the same period.

Liu chalks it up to "cognitive dissonance" among those calling the shots. He points out a sequel to 2018's "Crazy Rich Asians" hasn't yet been made, despite the film grossing more than $238 million globally on a $30 million budget.

"Warner Bros. still hasn't greenlit a sequel, even though there's a sequel to the book, so the material already exists. The storyline is basically gift wrapped for you," he says.

"It's really telling of where the industry is at. Unfortunately, being Asian American or Asian ºÃÉ«tv, we're always going to be part of this perpetual blind spot where our successes are seen as an anomaly, even though it's a pattern.

"I think it's a huge missed opportunity for Hollywood."

The same blind spot, he adds, was evident with this year's breakout hit "KPop Demon Hunters," which Sony Pictures produced and sold the distribution rights to Netflix, where it became the streamer's most watched film ever.

"(Sony) didn't even believe it could be a hit," says Liu. 

"These decision-makers are out of touch with what people want. As long as they continue to make these decisions out of an illusion of being risk-averse, we're just going to continue to see movies failing."

For Liu, that disconnect makes roles like "The Copenhagen Test" feel increasingly rare.

"I don't take it for granted a single moment," he says.

Next December, he'll return to the blockbuster spotlight in Marvel's "Avengers: Doomsday," reprising his role as Shang-Chi.

Before that, he'll make his Broadway debut in Cole Escola's hit comedy "Oh, Mary!" in February. He describes the move as a way to "heal creatively" amid industry disillusionment.

"I was definitely starting to lose the plot in my own frustration and in the way I was feeling about the industry and my career. (When that happens) it's always the right answer to just go back to what you love," he says.

"And what I love more than anything — more than dealing with the politics of Hollywood or its agents and the scene and networking — is acting. I love performing. I love connecting with audiences. And there's no better way to do that than on the stage."

This report by ºÃÉ«tvwas first published Dec. 30, 2025.