International trade and water

rdf:langString International trade and water

rdf:langString International trade and water is the relationship between international trade and the water being used by humans. The substantial increase in human population during the 20th century combined with rapid increases in overall global economic development has resulted in rising challenges for the future of public water management. The developing world has been particularly impacted by the lack of access to clean water. Each year, millions of people die due to illnesses, diseases, and lack the capital to create the infrastructure necessary to combat the problem. These conditions have increased the global demand for clean water and in turn, have pressured free market economists to suggest that wealthy market players are the most efficient solution to addressing water issues. Several nations can benefit from international trade in water. Particularly nations with excess fresh water and abundant capital are looking forward to making healthy profits from either the export of water to other nations, or are interested in the investment returns they will earn from participation in foreign markets. However, not everyone agrees that market forces are best capable of solving water issues. NGOs, human rights organizations, and various stakeholders oppose viewing water in economic terms. These individuals accuse international trade agreements and international economic institutions including the World Bank and the International Monetary Fund (IMF) of attempting to privatize a resource that they consider a basic human right. The lack of a common understanding of whether or not water should be viewed as a commodity or a basic human right has resulted in heated debates among legal professionals and leading members of the academia.