You can certainly buy IP blacklists which will save you a lot of time; and if you dig around you can find quite a lot of lists for free (Especially on support boards for software like phpBB or vB)as many webmasters just build a list as they go.
Sadly the easiest way is still to block China, Japan and Russia if you're not focussed on a global market. If your webhost has a support team I'd definitely talk to them as they'll have a good bit of knowledge on the area (Y)