Globalization debasing literature?

"As a result of rapidly accelerating globalization we are moving toward a world market for literature. There is a growing sense that for an author to be considered “great,” he or she must be an international rather than a national phenomenon. This change is not perhaps as immediately evident in the US as it is in Europe, thanks to the size and power of the US market and the fact that English is generally perceived as the language of globalization, so that many more translations go away from it than toward it. However, more and more European, African, Asian and South American authors see themselves as having “failed” if they do not reach an international audience."