Global brands are here to stay, and they are not new. We have been witnessing their evolution over many decades, they are increasingly clever as they mirror and/or meet the demands of a local marketplace.
Brand is an emotional relationship between a single consumer and an orgnaisation or corporation. For brands that provide an experience, global portability is easier, as the environment in which the brand lives can be easily adapted for the consumer - the Starbucks experience varies according to location, whether it be New York, Chicago or London, as does McDonalds.
The presence of a global brand, although scary for small local businesses is not a bad thing - often the market is grown as a result. Retailers need to specialise, food brands need to improve quality and experience brands need to differentiate based on personality and heritage (things that can not be copied).
The challenge for the global brand lies in balancing similarity of experience with quality and difference, to prevent sameness and blandness or poor quality.
The future is bright for local, regional and international brands, as long as they align corporate strategy with brand strategy, and that it is underpinned with good quality products, service and value for money. In other words, do what you do, but do it well and have integrity, then customers will respect you and reward you with their custom.