The U.S. economy continues to expand, but surging energy prices are putting growing pressure on American households.
It is a peak harvest season in southern California, normally the time of year when farmers reap the rewards of months of hard work.
But this year, 84-year-old fourth-generation farmer Craig Underwood is not sure he will break even. Near-record high diesel prices have been eating away at his bottom line.
"It's pretty hard for us to budget for a dramatic increase in the cost of diesel. We use diesel in everything. We use it in our tractors, we use it in our booster pumps, we use it in our trucks. I mean diesel runs the country really," said Underwood, owner of the Underwood Farms.
The average price of diesel has soared more than 70 percent since the war in Iran started, spiking to all-time highs in September.
Persistently high energy prices have been fueling inflation across the United States for months, with consumer confidence now at its lowest level in more than 12 years.
"I think politicians as a whole, there's too many of them that get into politics and they forget what it's like to live paycheck to paycheck like some people do, and in the regular economy," said Ed Westrick, a resident of Texas.
Newly revised GDP numbers of the United States put growth at 2.2 percent in the second quarter, a sharp increase over the previous 1.5 percent estimate and higher than analysts expected. Much of that growth was driven by strong consumer spending and business investment around AI.
As for American consumers, they continue to spend despite inflation strains. But with inflation now outpacing wage growth, what they have in their pockets at the end of the day is less than before.
US surging energy prices put growing pressure on households
A patriotically-named builder has spent more than a decade at the helm of a key construction project in Beijing, helping transform the former Shougang steelworks into a modern urban landmark which has gained global attention for hosting international trade fairs and even the Winter Olympics.
Zhang Guoqing, a project manager at the Shougang Construction company whose given name literally means "National Day" in Chinese, shared his story as the country celebrates the 77th anniversary of the founding of the People's Republic of China on Thursday.
One of the defining projects of the veteran builder's career has been working on the large-scale renovation of the former industrial site in the west of the Chinese capital.
When Zhang returned to the Shougang steelworks in 2015, the sprawling plant had been silent for more than four years, with its once sizzling furnaces going cold ever since steel production was relocated out of Beijing.
"The site still looked much as it had when the steel plant was running. But the windows were broken, the plaster was peeling, and abandoned equipment was covered in dust. Weeds had grown outside. There was no one around," Zhang recalled.
In the years that followed, the former steelworks has been gradually reshaped into the bustling new Shougang Park, retaining its rustic feel but with a modern makeover that has reinvigorated the whole area. Zhang has played a key role in this transformation as the site has become a much-sought after destination for major events, exhibitions, and even providing a unique sporting arena for an Olympic Games.
His projects have ranged from the stunning ski jump built for the 2022 Beijing Winter Olympics to the permanent venue for the China International Fair for Trade in Services (CIFIT), an annual event which gathers 100,000 businesspeople at the Shougang Park.
Back when the work started, there were few precedents for repurposing aging industrial structures on such a large scale. Zhang and his team had to develop new approaches along the way to handle this mammoth undertaking.
"When we renovated Blast Furnace No. 3, some of its components were badly corroded. We treated their surfaces to form a stable protective rust layer. That made them more durable while preserving as much of the furnace's original industrial appearance as possible," he said.
Today, the former steelworks has become a distinctive landmark in the city, with its industrial history preserved and providing a unique backdrop which draws visitors for exhibitions and international events.
"This is Blast Furnace No. 4. After the renovation, it became Hall 1 of the permanent venue for the China International Fair for Trade in Services. Look at this furnace shell. We gave it special treatment using a new coating technique to achieve this color and texture, while keeping it looking much as it did before," said Zhang.
The site holds many dear memories for Zhang, who cherishes every individual project and wants each one to stand the test of time. His commitment and dedication has meant long days on site and years of hard but rewarding work.
The Shougang Park project is seen by many as a metaphor for China's wider development, as it moves from the heavy industry of the past into a more modern and vibrant future.
Zhang is one of the many who has witnessed China's transformation and has left his own mark on its progress through his work.
He acknowledges there has always been a sense of patriotic pride through the name of 'Guoqing' or "National Day" given to him by his parents, which has spurred him on to the success.
"Since I was a child, I've wanted to become an industrial worker and contribute to the country's development. This name [given to me] has always encouraged me to keep moving forward," he said.
Patriotically-named builder helps transform former steelworks site into modern day landmark
