Aside from the Sino-Soviet border becoming a MAJOR source of tension (Manchurian Missile Crisis, maybe?), the Cold War is fundamentally changed. No Korean War, meaning the idea of fighting proxy conflicts doesn't take hold until much later. On a smaller note, the Korean War created a influx of Korean refugees to the United States, some of whom were married to American GIs, and they started up their own businesses, so in American society, the influence of Asian culture could be somewhat diminished.
But here's the big one. No Vietnam War, resulting from a loss of the First Indochina War. In our timeline, the Viet Minh took sanctuary in the PRC after 1949 and the PRC also gave them supplies such as food (including thousands of tonnes of rice), money, medics and medical aid and supplies, arms and weapons (ranging from artillery guns (24 of such were used at the Battle of Dien Bien Phu) to rifles and machine-guns), ammunition and explosives and other types of military equipment. 2,000 military advisors from the PRC and the Soviet Union trained the Việt Minh. On top of this, the PRC sent two artillery battalions to fight at the siege of Dien Bien Phu on May 6, 1954, with one battalion operating the Soviet Katyusha multiple-rocket launcher systems (MRLS) against French forces besieged at Dien Bien Phu's valley.
From 1950 to 1954, the Chinese government shipped goods, materials, and medicine worth $43 billion (in 2019 dollars) to Vietnam. From 1950 to 1956, the Chinese government had also shipped 155,000 small arms, 58 million rounds of ammunition, 4,630 artillery pieces, 1,080,000 artillery shells, 840,000 hand grenades, 1,400,000 uniforms, 1,200 vehicles, 14,000 tons of food, and 26,000 tons of fuel to Vietnam.
So, as you can see, the PRC effectively became the Viet Minh's primary supporter and supplier, which means if the PRC is butterflied away, then the Soviets have to pick up the slack and give the Viet Minh more material aid than they did in our timeline, but that is going to be next to impossible, since the supplies would have to come through Chinese territory, which is now controlled by an American friendly government.
So, the Viet Minh could lose the war. Ho Chi Minh either goes into hiding or is executed. France reinforces it's grip on Indochina, probably supported by the Americans as per the Truman Doctrine. Without the Vietnam War, Pol Pot never rises in Cambodia, so the Khmer Rouge is butterflied away. Asia is an entirely American-controlled area, aside from Mongolia.
The Soviet Union would be forced to invest more money in it's military at the expense of other essential areas, so it's possible that the Soviet Union could spend itself into oblivion, probably collapsing in the '70s or '80s.
But, the Vietnam War had some positives for the United States. The Vietnam War was the last war in which the US used the draft, so without the Vietnam War, the US military could still be using the draft system today. Also, aside from a bloody nose, the US also caught what was called 'Vietnam Syndrome' in which the US was extremely hesitant about getting involved in a war overseas unless a victory is quick and inexpensive. This 'syndrome' went away after the Gulf War, but had it never existed in the first place, the US would be involving itself militarily in other countries during the '70s and '80s.