The fundamental problem of any PPP is that a lot can go wrong or change in 20, 50 years. It's impossible to predict and anticipate future economic climate so bo

The fundamental problem of any PPP is that a lot can go wrong or change in 20, 50 years. It's impossible to predict and anticipate future economic climate so both parts try to setup adversarial contracts where they are protected as much as possible. On the other hand, a private partner can always fold, go bankrupt, etc. while the state isn't going anywhere and it's obliged by law to abide by it's commitments. So this asymmetry almost guarantees a strong survivor bias towards very bad deals for the public. Except when everything goes exactly to plan for decades, PPPs tend to either fail or be detrimental to the public, by their innate nature. If we bring a bit of corruption into discussion in the initial tender phase, you get the full picture.