  The analysis of the $\pi\gamma$ transition form factor provides severe
constraints on the pion's wave function. This information is used to examine
charmonium decays into two pions critically. It will be argued that the
standard perturbative QCD analysis of these reactions fails, i.e. the need for
additional contributions can convincingly be demonstrated. Colour-octet
admixtures to the charmonium states are proposed as a possible dynamical
mechanisms to solve the puzzle. Consequences of the $\pi\gamma$ analysis for
the electromagnetic form factor of the pion are also discussed.
