I would put my money on incompetence and possibly malice but mostly incompetence as I usually follow the words "never attribute to malice that which is adequately explained by incompetence". Let's face it , anyone who could make semi consistent accurate predictions about economy or finance would have been noticed and snapped up by investment banking/consulting firms long ago. They wouldn't be writing articles for a small website.I understand getting personnel changes wrong. Expected, it is a soft prediction with lots of personal twists and turns.
How do you explain getting specific, numerical economic predictions like exchange rate wrong in both direction and order of magnitude?
I left a small chance for malice because oversea websites that focus on Chinese politics usually have some anti-ccp funding or ties as mentioned earlier. They would make whatever economic predictions/spin that fits their backers' narratives.