A tip-o'-the-hat to Thom Wade.
This is pretty damn creepy.
You know why you see this garbage in manga? It's because Japan's post-war constitution, which was drafted by the occupying American forces, was poorly worded in that it prohibited the depiction of pubic hair in any publication -- but said nothing about underage children. It wasn't long before some jackasses realized they could get around the anti-porn laws by depicting prepubescent girls. By the time the laws were revised, it was too late: Lolicon had entered the public consciousness and had staying power in self-published underground comics, which makes up the bulk of manga sales among otaku.
So there you go: Lolicon is Douglas MacArthur's fault.