What the U.S. Could Learn from Australia about Financing Infrastructure

As an Australian, I’ve have been resisting the temptation these past few months to react to the Trump Administration’s big infrastructure plans with “The U.S. could learn a lot from my country.” The international comparison gambit rarely works well in America, and I don’t want to appear too parochial. But I have learned a lot from the Australian example, and I think now is the time to share, as the Trump Administration pursues a plan of federal infrastructure investment intended to stimulate state, local and private investments. These events reinforced the three core truths about infrastructure:Building first-rate infrastructure — roads, bridges, ports, high-speed rail, airports, power grids, cell phone networks and fiber optic cables — is essential to realizing the full potential of all economies.The sheer scale of the global infrastructure challenge is so enormous that the only possible way to meet it is to find a much bigger role for the private sector.Savvy governments can ensure that increasing the role of the private sector in infrastructure furthers their mission of serving the broad needs of society.