In the figure, PC1 has an inside local address of 192.168.10.10. From the perspective of PC1, the web server has an outside address of 209.165.201.1. When packets are sent from PC1 to the global address of the web server, the inside local address of PC1 is translated to 209.165.200.226 (inside global address). The address of the outside device is not typically translated, because that address is usually a public IPv4 address.
Notice that PC1 has different local and global addresses, whereas the web server has the same public IPv4 address for both. From the perspective of the web server, traffic originating from PC1 appears to have come from 209.165.200.226, the inside global address.
The NAT router, R2 in the figure, is the demarcation point between the inside and outside networks and as between local and global addresses.