Postdictatorial cultural production in the South American Cone has undergone, for the past three decades, a noticeable transformation in the symbolic imaginaries brought about not only by the spread of mass media forms of communication but also by the social and economic processes of globalization, such as migration and transnational trade agreements. In my paper, I propose to explore some of the issues raised by these phenomena first, by analyzing the so-called McOndo movement in literature, and secondly, by looking into the Argentine writer Rodrigo Fresán’s works, which span the 1990s and the first years of the twenty first century. McOndo will be explored as symptomatic of a search for a new Latin American identity in literature, one that attempts to break away from the legacy of the boom and that defines itself as cosmopolitan or transnational rather than local, regional or national; whilst Rodrigo Fresán’s narratives will be examined as instances of the new challenges and questions that postmodernist fictions have began to throw up in the era of multinational capital in countries like Argentina. The overall aim of the paper is to attempt to address some key issues concerning the crossings between national and transnational cultural boundaries and their influence in the renewal of literature.