Europe, watch out. You may lose the lead even in AI regulations. Xi Jinping aims to create a World Artificial Intelligence Cooperation Organization (WAICO) to make a global governance system for AI. For starters, Chinese firms tend to release models as open weight, and China was among the first nations to introduce AI-specific regulations since 2022, although the authorities take a soft approach to enforce them. US has no comprehensive legislation on AI at the federal level, and it aims to do so at the state level too. EU classifies AI systems by risk level, with different rules relating to transparency and obligations, but the only binding regulation comes from the Council of Europe, which commits countries to ensure AI safety through their national laws, with no sanctions or supranational enforcement body. WAICO could be a way for countries to coordinate AI governance rules, and it would help China commercially to favor the diffusion of its products while buying some "regulating" credibility. Still, no one knows what a global form of AI governance will look like- it could be much like nuclear-power regulation with legally binding treaties- but it is coming, sooner or later. And China may play an important role in it.