@Abedeus Well, based on anime/manga at least, lolicons and drastically younger girls are seemingly over common in this genre... and I was generalizing a specific industry of a nation that is extremely popular and spread through out the nation (though I do admit that it probably wasn't clear enough; but still, I feel context clues are important). And it wasn't a racial slur, it was a shortening.
It should be noted that in Japan, anime/manga does actually have a bad stigma mainly because of the hentai/fan-service and the loliconism.
Edit: Okay, so after some internet research; apparently, in some parts of the world, that is a slur; where I'm living, it's not and is a common term used by my Japanese friends and our group...
So depending on where you live, that can be considered a slur and in some places, it isn't.