I'm using 'Coloured People' specifically as the trope used by Hollywood here (thus the capitals, same goes for White Man). Call me cynic, but I expect that's exactly what the people who create movies or series with that kind of story call them in their head.

(Personally, I use neither terms. I'm not fond of grouping people into a phrase, just my personal preference.)

Sorry that I didn't make that clear! Maybe I should've used "" instead.