Abstract: This article discusses the characteristics of competition strategies of the multi national cooperation at the era of economic globalization and its impact on Chinese economy; and then it analyzes the main reasons why and how foreign brands have impacted greatly on Chinese markets in the following aspects: entering various fields, selection of partners, the means of expanding their brands, and the impact of their participation. A further discussion is about the main cause for the dilemma of the national brands. From the angles of government, business circle and consumer, the discussion goes further to the countermeasures for re energizing the national brands. The conclusion is finally drawn that to the business world, the government must strengthen its guidance, regulation and legal system building in order to better the environment for the development of national brands and their competitive capacity by awakening the sense of product quality, of innovation, and of culture, etc. Also it requires the consumers to develop the national product complex and preferentially buy the national products when the national products are on the par with the corresponding international ones in quality.