"Little Red Book" is a disparaging name given to "Quotations of Chairman Mao" ***BY WESTERNERS***. The formal Chinese name, 毛主席语录, translates to what I just cited and the affectionate name is 红宝书, or "Treasured Red Book".
You don't use "little" when describing things other than children or your (VERY good!) friends in China. It's disparaging and disrespectful, and I guarantee you that, outside of some dissidents, you're not going to find people publicly calling that book "little".
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