TheStreet.com's Jim Cramer says that country can be counted on for tons of growth.
How perfect is China? We have producer price inflation down to almost zero, and rate cut possibilities as far as the eye can see. In our country, all we have heard is "pushing on a string." In their country, all they know is that when the Chinese central bank loosens, wondrous things happen, including a 29% gain in the index.
That gain is so glaring that you can be emboldened about it. You know that they have just started to put China to work and the inventories of all metals could be worked off quickly and the infrastructure products just started.
The sop-up will lead to big gains in the Chevrons (NYSE: CVX) (Cramer's Take) and the Nucors (NYSE: NUE) (Cramer's Take) and make the downgrades of U.S. Steel (NYSE: X) (Cramer's Take) and Qualcomm (NASDAQ: QCOM) (Cramer's Take) silly given how much money China can put to work.
China's the reason there is a bid. I know that China's the reason, even why tech has a bid under it, which is obvious from the statements from Cisco's (NASDAQ: CSCO) (Cramer's Take) John Chambers last night about investing in China. It's truly amazing how much growth could come from there. (I wish there were a better proxy -- the iShares FTSE/Xinhua China 25 Index (NYSE: FXI) (Cramer's Take) ETF, thought to be the best one, is barely up for the year!)
Focus on China today. When Meredith Whitney blasts the Geithner plan out of the water -- I love the certainty we have heard with each iteration by the press -- you will need a place to go.
It isn't the U.S., believe me.
Random musings: Tech and fast-growth health care, both located predominantly on the Nazz are leading this year's charge. Other than China, I don't feel good about tech. Health care just feels great, and I continue to want to be in Celgene (NASDAQ: CELG) (Cramer's Take) and Gilead (NASDAQ: GILD) (Cramer's Take) and marvel at how well Cephalon (NASDAQ: CEPH) (Cramer's Take) keeps doing. Yes, I would circle Mead Johnson (MJN) (Cramer's Take) today.
At the time of publication, Cramer was long Qualcomm, Cisco, FXI, Celgene and Gilead. Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO.
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