Power counting and effective field theory for charmonium

We hypothesize that the correct power counting for charmonia is in the parameter Lambda_QCD/m_c, but is not based purely on dimensional analysis (as is HQET). This power counting leads to predictions which differ from those resulting from the usual velocity power counting rules of NRQCD. In particular, we show that while Lambda_QCD/m_c power counting preserves the empirically verified predictions of spin symmetry in decays, it also leads to new predictions which include: A hierarchy between spin singlet and triplet octet matrix elements in the J/psi system. A quenching of the net polarization in production at large transverse momentum. No end point enhancement in radiative decays. We discuss explicit tests which can differentiate between the traditional and new theories of NRQCD.