In this issue:

• Big Cities Have a Comparative Disadvantage at Basic Services

• Facebook and Moderation Politics

• Carbon and Capex

• Why Trade is Holding Up

• Auditing China

• Triangulating TikTok

• Vaccine Diplomacy

Big Cities Have a Comparative Disadvantage at Basic Services

Residents of New York, Chicago, and San Francisco like to brag about their cities, but they also c…