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Peter Englund, permanent secretary of the Royal Swedish Academy, arrives to announce that Chinese writer Mo Yan has been named the winner of the 2012 Nobel Prize in literature, Thursday Oct. 11, 2012 in Stockholm. The Swedish Academy, which selects the winners of the prestigious award, in Thursday praised Mo's "hallucinatoric realism" saying it "merges folk tales, history and the contemporary." As with the other Nobel Prizes, the prize is worth 8 million kronor, or about $1.2 million. (AP Photo/Fredrik Sandberg) SWEDEN OUT