Though I doubt it would be possible because of licenses, (and also a relatively small number of people interested in that) the different clocks and the chosen time (which covers most of the world being awake) make me hope that they move to a somewhat global iTunes Store, where one can buy and gift music, apps, movies across country-specific stores.

Just last week, I couldn't gift an iPhone game to a friend because he wouldn't have been able to get it from his "local" store.