Regardless of the merit of this particular fine, what happens when every country realizes they can just arbitrarily fine huge international companies to fund their countries?

In theory all 50 countries that Google has offices could fine them $100M - $10B based on whatever their laws are at the time, regardless of how ridiculous the laws are. It doesn't even have to be truly bad stuff. It could be something like, a country doesn't like that Google didn't censor something worldwide.

It seems like we need a more centralized way to deal with this.