In this study, we introduced an integrated assessment framework, and estimated both quality and quantity-related Water Scarcity Index (WSI), local economic water scarcity risk (WSR), and the cascading virtual WSR observed in global trade markets across 40 major economies spanning from 1995 to 2010. Results show that developing countries had rapid growth in both quantity and quality-related WSI, while major developed economies experienced a modest increase in water stress but mitigated quality-related risks, suggesting imbalanced progress towards SDG 6 across countries.