We introduce a new and well defined power counting for the effective f
ield theory describing nucleon-nucleon interactions. Because of the la
rge NN scattering lengths it differs from other applications of chiral
perturbation theory and is facilitated by introducing an unusual subt
raction scheme and renormalization group analysis. Calculation to subl
eading order in the expansion can be dune analytically, and we present
the results for both the S-1(0) and S-3(1) - D-3(1) channels. (C) 199
8 Elsevier Science B.V.