I'm from one of the aforementioned countries and there have been diplomatic remonstrations about its use, to the point that respected publications don't use it anymore.
It's just blatant casual racism at this point.
It used to be common and it's clearly derogatory, since the acronym itself sounds bad, and it was created to describe a negative situation in the first place (often with blame attached).
However you look at the situation, blame doesn't lay with the individual citizens of any of those countries - it lies with the policies chosen by the countries collective leadership. Insulting political policies is far more acceptable than insulting individuals.
Yes - to be clear I don't agree with the blaming, I was just saying it exists.