MSCI China over the last 2 decades has returned over 12%.
I don't know if your statement about MSCi China is correct but if so you are cherry picking based on an unusual start date.
Not per year: https://www.msci.com/documents/10199/aa99c3a4-d48b-44ac-8caa...
MSCI China over the last 2 decades has returned over 12%.