It’s depends on parents. They give their kid name, which they like. It may be grandfathers or grandmothers name, maybe not. It is not analogues of Asian names in Russian. I think, the best way to name you in Russian is Дастин Ву (or Дайзонг, if you like). If you like Russian name, I think Данила is the best.

Так как имена Dustin and Daizong начинаются на букву "Д", предлагаю тебе русские имена, также начинающиеся на эту букву: 1. Даниил 2. Денис 3. Дмитрий (Дима)

Usually, we do not follow any specially conditions choosing a name for a child. Eventual, if the family is very pious, the name can be chosen in consideration of the name of Saint Person, who also was born at this Day. However, it happens very seldom now. That is a matter of taste.

It can be selected from scracth(like parents of newborn man like name "Олег" - just like this name, so they call their kid "Олег"), it can be selected for honor of someone know by his parents or it can be selected by nearest(to birthdate) day of remebrance of some one holy. Like me godfathers birthdate are near to day of remebrance of Иоанн Креститель. For example my name are selected in honor of my godfather.

My parents named me spontaneously. They wanted me to have a name which would be clear in all languages. I know some people from England, the USA, whose names are such, and it's quite easy to pronounce it.