Economist Podcasts Inflationary pressure: Argentina’s strikes
Apr 30, 2019
David Smith, an Argentina correspondent for The Economist, sheds light on the ongoing strikes in Argentina as citizens protest against soaring inflation and a devaluing currency. He discusses the political unrest linked to government austerity and the potential return of a controversial leader. Meanwhile, Edward McBride explores Taiwan’s presidential race, focusing on businessman Terry Guo and his perceived conflicts with China. The rich tapestry of political intrigue reveals how these global issues intertwine with local strife and economic challenges.
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Argentina's Economic Crisis
- Argentina faces economic turmoil, with high inflation and a devaluing peso.
- Labor unions are striking, protesting President Macri's austerity policies.
Strikes in Buenos Aires
- Buenos Aires is experiencing a lockdown due to strikes, impacting transport, schools, and hospitals.
- This is the first of two days of strikes, with a potentially larger gathering expected on May Day.
Reasons for the Strikes
- The strikes are driven by rising poverty, hunger, and a significant debt burden.
- Inflation, at 54%, is a key concern for Argentinians, impacting their purchasing power.