The parameters for health collaboration are shifting. China and other powers are increasing their international health activities, and key technologies required for global health are becoming more relevant also for industrial and security policies. In order to build successful health collaborations in this context, the chapter argues for a considered reflection on some of the fundamental ideas on which the existing system of “global health governance” rests: the notion of “globality;” the focus on health as the driving force of this system; and the approach to “governance” that has been institutionalized in global health governance. Based on these reflections, the chapter concludes that the future of global health governance is likely to be less global and less about health, and that it will contain less “governance” of the type which has characterized health collaborations of the 1990s and early 2000s.