This is a guess.
But it is same as this piece of code.
using MyNameSpace = MyCompany.MyProject.MyLibrary;
The idea is to avoid namespace name conflict.
"global" is used to separate your assembly having similar namespace from that of the framework.
Assume that your library also has a Console class & your CS file has a reference to your library and mscorlib.dll. And, if you would like to use .net framework Console class, you can write global::System.Console.WriteLine("hello");
You can also do the following, in such a case.
using myConsole = MyLibrary.Console;
using fwkConsole = global::System.Console;
Guys, correct me if I have misunderstood the question.