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I'd have to say both are important, but I'd say that defending it against wrestler's of other countries is more important. A world title defended only against people from America, but defended around the world is still rather exclusive. Likewise, if you defend it against peeps from other countries, but your belt has no exposure outside of America, same thing.
Ultimately, most "World Titles" are simply the highest title of a company/brand. On that note, TNA's is a joke.
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