Where is the Mandarin?

For better or for worse, we did get to see the Mandarin, Tony Stark’s greatest enemy, in the MCU – he was just an actor, hired by the secret villain of Iron Man 3 to instill fear and distract the hero from his real plans.

But, as the All Hail the King one-shot revealed, there is indeed a real Mandarin in the shared universe, one who was pissed off when he heard that his name was used in vain. And, apparently, that Mandarin is the real deal (hopefully).

So, where is he? Marvel spent one whole Phase without even mentioning him. Is he supposed to make his grand appearance after the Infinity War? If so, does this mean that Iron Man will be recast, or that he will be the enemy of another hero?

Furthermore, and even more important, are his powers technologically based, or does he employ the magic of the ten rings? At this point, his fake appearance in Iron Man 3 was a missed opportunity. But, leaving this aside, it is still a wonder why Marvel hasn’t mentioned him just yet.