Non-leptonic two-body B decays and CP violation

A method for computing branching ratios for all two-body decay modes of B mesons using perturbative QCD is discussed. It offers an understanding of why the factorization approximation works so well. It also offers an understanding of why penguin diagrams are larger than what we naively estimated. Finally, I emphasize that the penguin annihilation diagram gives a non-negligible contribution. It also leads to a large final-state interaction phase, which in turn leads to a large CP violation in many two-body decays.