The World's Next Strategic Asset
Water troubles cost the president of Madagascar his job. But in a twist, it was water troubles in South Korea that did him in. Daewoo, a big South Korean conglomerate, worried about how it would increase food supplies, given its water-stressed homeland. So it signed a deal with Madagascar to lease half of its arable land to grow crops to ship back home to South Korea.
When the people of Madagascar heard about the deal, they were very unhappy. The new president of Madagascar wasted no time and scotched the deal. It’s just another step along the road to water becoming a strategic asset, just like oil. Another episode in an unfolding series called the global water crisis.
Water is one of four areas that look most attractive to me in a big-picture sense. I remember them with an acronym I’ve created: WAGE. It stands for Water, Agriculture, Gold and Energy.