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Cramer: Why other countries won't admit to you that things are better

The reason other countries won't admit things are better

Jim Cramer has noticed that global growth has improved dramatically, yet people still think nothing has changed.

"Many countries have no desire to admit that things are better because that wouldn't jive with the easy money policies of their central banks," the "Mad Money" host said.

These are the monetary policies that keep currencies at a low foreign exchange rate in order to make exports more attractive, particularly to the United States.

"They want to use the so-called greatness of globalization to steal market share because they think they can get away with it," Cramer said.

The original plan behind monetary policy wasn't to let countries steal market share. Foreign banks initially cut interest rates to boost fragile economies. What ended up happening was that it ignited the economies of the home markets and made their interest rates look ridiculous.

In Europe, Germany had stagnant growth, and it finally started to pick up. Cramer suspected this was because the country admitted more than a million refugees that all had to be clothed, fed and required work, and thus the economy expanded.

Lower rates have helped the economy in Spain, too. This is why Cramer has been eyeing Banco Santander as a trade on speculation.

The biggest surprise to Cramer was the strength of the U.K. While Brexit could hurt the economy one day, right now consumers are still spending and construction remains strong.

Even Russia has turned around thanks to the price of crude, as the ruble is linked to oil. While sanctions will still hurt and there has not been robust growth, the growth is still better than it was.

India's demonetization initiative has started to generate more credit and could grow faster. However, China is a bit more difficult. The Baltic Freight index is slipping, but companies like Cummins and Boeing have said good things about capital goods spending.

Latin America and Japan have also displayed signs of a revival.

"That is a lot of growth from a lot of places. It may be under-recognized, but it is indisputable unless you are a central banker who wants to keep his currency than it should be," Cramer said.

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Cramer: Why other countries won't admit to you that things are better