ASYMMETRICAL PARTNERSHIP: TRANSFORMATION OF INTERACTION BETWEEN THE STATE AND THE PRIVATE SECTOR IN THE 21ST CENTURY

The article examines the essence, evolution, and current trends in the development of public-private partnerships (PPPs) in the context of globalization of the world economy and the growing influence of transnational corporations (TNCs). Particular attention is paid to the transformation of interaction between the state and the private sector, accompanied by a shift in the balance of economic and financial power in favor of business structures. The author's concept of “asymmetric partnership” is substantiated, reflecting the growing inequality of the parties' positions in the implementation of joint projects, primarily in strategically important sectors of the economy.The article analyzes the key factors shaping asymmetry in relations between the state and the private sector, including the dominance of TNCs in global value chains, the dependence of national economies on external investment and credit resources, and the limited budgetary capabilities of the state. Particular emphasis is placed on the financial aspects of PPPs, in particular on the problems of financial risk sharing, long-term government debt obligations, the influence of private capital on the formation of tariff and investment policies, and the growth of fiscal risks for public finances.The main risks of asymmetric partnerships are identified, including the weakening of the state's economic sovereignty, loss of control over infrastructure and strategic assets, increased financial dependence, and the strengthening of the political influence of big business on the state decision-making process. Ways to minimize the imbalance in relations between the state and the private sector are proposed, in particular by improving the regulatory framework for PPPs, increasing the transparency of the financial terms of agreements, strengthening institutional and public control, and introducing effective mechanisms for assessing financial risks.The results of the study deepen the theoretical and methodological foundations for analyzing public-private partnerships in the global economy and can be used in the formation of public policy in the field of economic and financial security.