Thanks Oldfordguy, but in the meantime I did my reasearch on wikipedia and here is the popular definition of rice rocket;
A rice rocket is a slang term applied to Japanese-made sports bikes. The term is derived from the speed of the motorcycle (rocket), and the "Japanese" origin of the vehicles (a reference to cultural and historical importance of the rice crop in Japan). The term is sometimes used derogatorily, implying that American and/or European vehicles are superior to Japanese made vehicles, but, as with many slang terms, may also be used neutrally or even as a term of affection, depending on the speaker and context.
Rice rocket is also an American slang for imported Japanese cars often modified, customized, and tuned for performance or racing use. The cars often have modifications such as cut springs to give the car a lower stance, body kits, spoilers, lighting modifications, custom paint and/or decal designs, rims and loud mufflers. The vehicles usually have small displacement engines (usually 4-cylinders) which require additional performance modifications to get them to be adequate competitors. In the most advanced stages, 'rice rocket' vehicles will be given supplemental power via forced induction, most commonly a turbocharger system.
Additionally, rice rocket is sometimes used synonymously with the term rice burner.
Now I can sleep restfully.