China creates peace prize to rival Nobel.

"Angered by the decision to award this year's prize to jailed Chinese dissident Liu Xiaobo. Beijing has mounted a campaign to discredit the award and has asked its allies to boycott the ceremony. It has also created its own rival 'Confucius Peace Prize.' The award will be handed out on Dec. 9, one day before the Nobel prize ceremony, to Taiwan's former vice-president Lien Chan."

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