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This article examines the increasing competition in the academic market between conventional terms such as postcolonial and anglophone literature and their cognates, and the newly current term world literature. Even in postcolonial studies circles, world literature is increasingly taken to refer not only to 'the best ever written', as before, but to literature produced within and in response to a globalizing world. The paper explores the different valences of this shift, and the tensions and contradictions it has generated within the wider anglophone literary field.