Two types of world literature

From the Smart Set: "What is world literature? World literature comes in two alternate, conceivable versions: contemporary world literature and global classicism. Contemporary world literature is the literature of contemporary societies — particularly works of literature that obtain an international reputation. Global classicism might be described as contemporary literature inspired by the multiple traditions of the premodern regional literate civilizations of Eurasia, including the Chinese, Indian, Greco-Roman, Euro-Christian, and Muslim."