The world appears to be facing a looming water challenge. By
2030 global water requirements are likely 40% greater than current
supplies, and one-third of the world’s population, mostly in
developing countries, might live in areas where this deficit is larger
than 50% (Addams et al., 2009). Alexandratos and Bruinsma (2012)
argue that global water resources will be sufficient to feed the
world, but the ‘‘devil is in the details’’ with water shortages causing
high stress in specific localities. Falkenmark et al. (2009) argue that
water shortages in some countries could be offset by food imports
from water rich countries. In this vein, there is an emerging body of
literature documenting the role of ‘‘virtual water trade’’ as a vehicle
for achieving global water savings in the face of local shortfalls
(Konar et al., 2013; Dalin et al., 2012; Lenzen et al., 2013).