I do not know if this topic would fit as "cultural" topic, but hear me out, please.
I think it's two years ago, when in internet, there are discussion about "Is 龙 and Dragon is actually same creature and hence interchangeable?" and My thought is it is not, to translate 龙as dragon or even Chinese dragon, IMO is misnomer, both creature are nothing alike, the roles and elemental association is almost have 180 degrees of difference, to illustrate my point it is kind of calling a Rhinoceros, as "African Unicorn" or Unicorn as "European Rhinoceros".
so there are consensus to start call 龙 as "Loong" in English, to easily differentiate it with actually more precise pronunciations like "Long" or "Lung" that already had established meaning and quite common word, I would even say, it's better to call them Ryuu or Yong as concession, as IMO it's still better than "Chinese Dragon".
So then a followed up question naturally arise, how to address "dragon" in Chinese? surely not "西方龙" which IMO, equally bad, semantic wise, I found my answer in some abstract from a cultural-linguist theses that suggest to call dragon "劫更" in Chinese, it's semantically imply dragon's nature in Europe folklore as "calamity" while retain the phonetic transliteration of "dragon" quite elegantly, if there are a better candidate, I would also love to know it!
and if you reading this still following and agree with what I said so far, the next question naturally arise, "why not separate Fenghuang and phoenix too", in English, it's easy, it's Phoenix and Fenghuang/Hoou, but common translation of Phoenix as "火鸟" left me unsatisfied, and while it's literally a non-problem for anyone else, might I suggest "焚倪" to transliterate the word "phoenix" that is satisfying in phonetic and semantic wise.
as it sounds like Phoenix and semantic wise, imply something connected to being burn and beginning/offspring
and while at that why not apply the same logic to most of common fantasy trope in fantasy? like what stop us to start call Dwarf..something like "土倭人"?, and why stop there? how about Elf? Fairy? Kobold? Goblin? etc, please suggest me your transliteration idea for those, if you had any.
and at this point, I need to confess that while I understood that this is such a non issue, and Chinese rule to translate concept/thing into Chinese and only name to be transliterated phonetically, my argument is "why not both?".
if I am wrong, my apologizes, it's not my intend to offend anyone, and if it do offend, please assume it comes from my ignorance and lack of understanding, and not anything malicious, so please educate me, if that's the case.