Ninja, I am guessing you are a teenager. If I am wrong, my apologies.
As you grow older, you will realize that your relationships with your family will constantly be growing and changing. It doesn't mean that you are 'drifting away' from them really. You are at a stage in your life where you are starting to develop your own distinct personality and independence from your family. Of course your folks don't want to see this, they still want their little boy. This isn't a disrespect to you, it means they still love you very much and still want to protect you and are a little scared by seeing you starting to branch out from them a little.
Not being Asian, I won't even pretend to understand the Chinese culture. But I do understand the relationships in family, that is pretty universal.
Your best course of action would be to let yourself and your dad cool down a couple days from the argument. And then approach him with a sincere apology and tell him all the things you said here. Especially how much you respect him and consider him a very wise man.
Hope this helps you, or anyone else who has family troubles from time to time.