I first heard of this in the late 1970 / early 80s. It seems to have originated originated during Mao's 'Great Leap Forward' (1958-1961) during which millions starved to death due to a man-made (Mao-made) famine. People knew it didn't help but maybe took comfort from some psychological effect. Estimates for the fatalities range from 30-55 million. Still in living memory so nothing really to LOL about.
https://www.investopedia.com/terms/g/great-leap-forward.asp