Is this the time for Virtual Water?

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China is having its worst drought in living memory in its wettest region, and the only answer Beijing has to nearly empty the 3 Gorges reservoir, which could hamper power production. At the same time, the NYT has a big article on food shortages caused by climate change, but we also know that biofuel production is taking viable soil out of circulation. 1. How can virtual water pricing impact these situations? 2. There will be winners and losers? 3. What would be the impact on manufacturing outsourcing to places like China? 4. What would be the impact on biofuels?