“Over the past 20 years, Chinese authorities could turn a blind eye to some illegal business practices, tax evasion or wrongdoings, because the economy enjoyed robust growth,” said Ming Liao, founding partner of Beijing-based private equity firm Prospect Avenue Capital. Now that the economy is slowing down “the question becomes how to divide the cake. Thus the need to weigh fairness against efficiency,” he said

equating "illegal business practices, tax evasion or wrongdoings" and "efficiency"