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This chapter examines the COVID-19 pandemic as a systemic stress test of global health governance, revealing the tensions between state sovereignty, market logic, and multilateral solidarity. It situates pandemic responses within the broader political economy of healthcare, analyzing how intellectual property regimes, supply-chain concentration, and fiscal asymmetries shaped inequities in access to vaccines, diagnostics, and therapeutics. Comparative case studies from the United States, China, and low- and middle-income countries illustrate divergent outcomes arising from variations in state capacity, industrial policy, and social protection. The chapter argues that pandemic resilience requires reimagining health as a global public good, diversifying regional production, reforming intellectual-property frameworks, and embedding equity into international law. Through an integrated analysis of governance, finance, and justice, it proposes a new paradigm of cooperative preparedness grounded in transparency, inclusivity, and sustainable solidarity.