Yiu-Fai and Po-Wing arrive in Argentina from Hong Kong and take to the road for a holiday. Something is wrong and their relationship goes adrift. A disillusioned Yiu-Fai starts working at a tango bar to save up for his trip home. When a beaten and bruised Po-Wing reappears, Yiu-Fai is empathetic but is unable to enter a more intimate relationship. After all, Po-Wing is not ready to settle down. Yiu-Fai now works in a Chinese restaurant and meets the youthful Chang from Taiwan. Yiu-Fai’s life takes on a new spin, while Po-Wing’s life shatters continually in contrast.
黎耀辉（梁朝伟）与何宝荣（张国荣）是一对同性恋人，为了有新的开始，他们怀着美丽的梦想（去看南美洲大瀑布）离开香港来到阿根廷，却在布宜诺斯艾利斯迷了路。黎耀辉想安下心来过日子，无奈何宝荣于夜夜笙歌中放纵着自己的生命，以期找寻更多的刺激，只当黎耀辉是他受伤后的港湾，两人分歧 、争吵越来越多，心的距离越来越远。 黎耀辉明白过去的日子不可能再复返时，决定离开何宝荣，而正是在他离开后，绝望的意味（对黎耀辉的爱）才在何宝荣的脑海中完整的浮现。