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World Enters Water Bankruptcy, Not Just Shortage
27 Feb
Summary
- Nearly half of humanity faces severe water scarcity annually.
- Groundwater, wetlands, and glaciers are being depleted.
- Water bankruptcy is a crisis of democracy and unequal distribution.
The planet is not experiencing a temporary water shortage but is entering a state of 'water bankruptcy,' with nearly half of humanity facing severe scarcity annually. Aquifers, wetlands, and rivers are showing structural losses, draining reserves built over millennia. Climate change intensifies existing droughts, exposing the fragility of systems stripped of buffers.
This crisis stems from an economic model that has over-exploited freshwater, treating it as an expendable capital. For over a century, infrastructure like dams and deep wells created an illusion of endless supply. Agriculture accounts for 70% of global withdrawals, often feeding export-oriented monocultures.
Water bankruptcy occurs when societies deplete long-term storage like groundwater and glaciers. Land subsidence, where cities sink due to over-pumping, is a clear sign of this insolvency. Recovery becomes physically impossible once aquifers collapse, with climate change accelerating damage.
The issue is deeply political, with water distribution often following class lines. Efficiency measures and desalination plants offer temporary fixes but delay the reckoning. True solutions require recognizing that societies are living beyond their hydrological means and reclaiming water as a commons embedded in ecosystems.
