The fallacious strategy of virtual water trade

Shaofeng Jia, Qiubo Long and Wenhua Liu

International Journal of Water Resources Development, 2017, vol. 33, issue 2, 340-347

Abstract: Since the concept of virtual water was put forward, there has been an increasing number of papers on the topic, as a result of which virtual water is now being mainstreamed in the water policy world. Unfortunately, virtual water trade strategy as a solution to water shortages is wrong and fallacious. Although the virtual water trade theory is considered a descendant of the comparative advantage theory of economics, it is in fact an over-simplification, going from the truth to fallacy. To make decisions of virtual water trade based on only one production factor, water, though there are many other production factors that influence the allocation of resources at the same time, is misleading theoretically and practically.

Date: 2017
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DOI: 10.1080/07900627.2016.1180591

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