Maybe that is what Richard Nixon thought as well when he caused a little scandal using it in South America in 1950. In 1992 when the Chicago Tribune published "HANDS OFF" mentioning said episode the negative connotations still seemed to be in place[1].
In 1996 The New York Times stated "What's A-O.K. in the U.S.A. Is Lewd and Worthless Beyond"[2] as title of an article confirming the negative connotations.
It is worth mentioning that this article lists Australia amongst the places where the gesture is inappropriate. I always thought it was something used only in the English-speaking world but it seems in reality it is more like a North American plus diving world thing.
If you don't believe the press, I traveled around the world for more than 30 years and I can assure you in most parts using your thumb and index finger for a visual OK is not OK.
[1] https://www.chicagotribune.com/1992/01/26/hands-off-34/
[2] https://www.nytimes.com/1996/08/18/weekinreview/what-s-a-ok-...*