The paper uses the balanced analysis method to systematically study the impact of the global coronavirus outbreak on the world, analyzes in depth the challenges posed by COVID-19 on global governance capacity, analyzes the causes of the pandemic at the macro level and especially proposes the strategic thinking for enhancing global governance capacity and the countermeasures against the pandemic. The coronavirus knows no national boundary, which requires humankind to stand closely together. Under the pandemic, “home quarantine” seems a most primitive traditional measure, but is actually the most effective approach that is about life or death. COVID-19 may change some ways human behave, pose severe impact on global production and demand, foster unilateralism, intensify geopolitical conflicts, undermine global economic integration, challenge global governance capacity and push China and U.S. closer to cold war.