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World Literature’s time has come again in the current development of a new discipline of World Literature suitable for a time of globalization. The new disciple faces some challenges: the challenge of translation, the challenge of what literary works to choose as representative, the challenge of making a universal definition of “literature.” The thought experiment of imagining what commentary you would need to put with a translation into Chinese of W. B. Yeats’s lyric, “The Cold Heaven,” exemplifies these problems. Explaining the reasons for Friedrich Nietzsche’s rejection of Goethe’s
Weltliteratur
, in
The Birth of Tragedy
, is, when that rejection is put into the context of
The Birth of Tragedy
as a whole and of other writing by Nietzsche, a good example of the theoretical problems that the renewed discipline of World Literature may need to take into account.