Cramer's #1 foreign pick is Toyota Motor (TM): Cramer thinks it is killing Ford and GM. Keep in mind that Cramer has been touting Toyota for some time now and very negative on US-auto makers. He likes the copper buy to lower costs and doesn't care about the recalls last weekend causing a $4 drop.

Cramer's #2 foreign pick is Diageo (DEO-NYSE/ADR), the spirits maker based in England. He has been behind the stock since $62.90 and it has a 3.7% dividend. This is more of a defensive play, and he notes that people won't stop drinking on a bad economy and may even drink more. Cramer said it's the best liquor company in the world, has great exposure to emerging markets and it can deliver on its business plan. It has 7 consecutive growth months in the US and owns a big stake in the Moet Hennessey empire.

Cramer's #3 foreign pick is Bank of Nova Scotia (BNS-NYSE/ADR) in Canada. He thinks Canada was way too cheap a few years ago, and it is still fairly cheap. The growth is accelerating and it is down 10% from the high' the dividend is over 3% and it is growing market share; it has a lower multiple than US-banks. What Cramer really likes is that it is the lowest risk play in Latin America because it has 1/3 exposure to the Caribbean and will be the best play on Cuba when Castro croaks. It added 100 branches in Mexico and this is a conservative way to play down South.

Cramer's #4 foreign pick is is CVRD (RIO) in Brazil. He likes CVRD-Companhia Vale do Rio Doce (RIO) better than Rio Tinto (RTP). He likes that it bought Inco in a robbed deal. It used to be a provincial iron ore company but is now diversified and global, and is thought of as a lowest cost producer that is essentially a Canadian-Latin player and has huge reserves. He thinks the stock is dirt cheap and the investment expectations are too low for the forward year. Now that Brazil is cutting corporate taxes, he likes it even better. The country is also allowing the stripping of the rain forest to stabilize the country and make it energy self-sufficient, and he reminds you the show is about money more than social issues.

Cramer's #5 foreign pick is NTL Inc. (NTLI): Cramer thinks it is the next cable company to make a run. It hasn't run at all with the other cables. This is with Charter Communications having run and the Dolans trying to buy Cablevision, plus TWX over $20 and Comcast over $40. This has enough growth to pay down its debt. It is rolling out its own Triple Play in the UK. This is a catch-up play in the sector. Virgin owns 10% of this company and the company has cleaned up its old crummy standalone image. It is changing its name to Virgin Media, and the name change will be just like saying TRUMP in the US. He thinks it has a price-floor as a bottom since some private equity firms bid approximately $27 per share that was denied in the past.