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00:00:01
>> Argentina's Tierra del Fuego, a remote region home to penguins and glaciers as well as the nation's manufacturing hub is going bust with economic reforms taking their toll. As president Mauricio Macri tries to modernize Argentina sheltered economy by rolling back decades of trade barriers and lifting restrictions on imported goods like electronics domestic factories are hurting.
00:00:26
This mountainous area which produces more than 90% of the air conditioners, cell phones, TVs and microwaves sold in Argentina has seen huge job losses. Reuters correspondent Luc Cohen is in Buenos Aires.>> Tierra del Fuego Received a huge boost from the populist policies of former president Cristina Fernández.
00:00:49
She implemented import restrictions and high tariffs on consumer electronics like cellphones and computers. That resulted in global brands like Blackberry setting up factories there. So this created thousands of jobs. So after benefiting a lot, it now perhaps has the most to lose as Mauricio Macri opens up the economy.
00:01:11
Over four thousand jobs were lost in Tierra del Fuego last year. Overall formal private sector employment fell by 13%, that's the most of any province.>> Lucas Silva is among those out of work. He lost his job last year after the computer plant where he worked shut down anticipating the removal of tariffs.
00:01:34
>> These days I'm trying to sell my stuff to get by from month-to-month. It's complicated, at some point I won't have anything left to sell.>> High unemployment has many workers leaving for opportunities on the mainland>> Others, less sure of their fate are struggling to make ends meet.
00:01:49
Macri's government has launched some initiatives to ease their pain, helping workers find new jobs and forging deals with unions and companies in troubled sectors. After all, continued job losses might cost the president politically as his conservative government heads into legislative elections this fall.