Cramer Thinks Brexit Cloud Is Obscuring The View Of A Stronger China

While the markets and financial media have had Brexit on the Brain heavily since last week, Jim Cramer says he's been peeking around the referendum-result-cloud and seeing China gaining strength. China, still the world's second largest economy, dominated the minds of worried investors not too long ago. Concern over its slowing growth sent many stocks down and was partly responsible for the pullback experienced at the top of 2016. Cramer made his call on China's growing strength based on a 2.7 percent rally in the Shanghai composite index (sort of a Chinese S&P 500), which Cramer took as a sign that China is importing raw goods. In conjunction with a rebound in copper and oil, these could be indications that China has increased demand. China, with its staggeringly large population, is often viewed as the world's most sought-after market. Signs of increased demand could be potentially quite bullish for a diverse range of stocks, from Nike, Inc

to Netflix, Inc

.