John 7:24
24 Do not judge according to appearance, but judge with righteous judgment.
Race by default is determined physically or in other words, appearances. And racism is when someone judges by appearance. It doesn't matter if your saying a good thing or a bad thing of the race. If you judge my appearance/race than you are being racist.
Inequality is when things are not equal. There are a lot of things that are not equal? Its clear that men and women physically are not equal. But, to treat both equally. You'd have to just recognize both as human beings. They both have an inner being. The soul and personality is how to judge a person.
I would say inequality is when people discriminate. The word discriminate means that you differentiate on unjustified reasons... not just pointing something out as different and thinking it's wrong which a lot of people mistakenly think. Anyways, inequality is a broader can use racism as a tool/excuse to practice inequality/discrimination. Inequality can use nationality to practice inequality. Like, some UK person might look at me and call me names just because I'm American. It's happened before. Inequality can use political parties too or stereotypes too. Like, with me being a republican... I'm sure I'll get some heat from some liberals on this forum.
Hope that helps