The Next Five Days: Rust Belt Renaissance

But the real game changer for the industry will come when Ford (F - commentary - Cramer's Take) and GM (GM - commentary - Cramer's Take) announce plans to start exporting more cars from the U.S. to Europe. Ford, for its part, is moving to global platforms in order to more easily shift production between markets.

Ford has stated that it needs a stronger presence in the economy segment of the market. Simply put, Ford cannot build the upcoming Fiesta in Europe and export it to the U.S. That would be a surefire recipe to lose money on every car they sell. Instead, look for American-made Fiestas to land on the streets of Liverpool and Lisbon.

Of course, auto suppliers such as Visteon (VC - commentary - Cramer's Take) and Johnson Controls (JCI - commentary - Cramer's Take) will get a commensurate boost.

Rising incomes in the industrial belt could also strengthen sales trends at mid-priced retailers, such as Christopher & Banks and casual-dining stocks such as Darden's (DRI - commentary - Cramer's Take) or Brinker Int'l (EAT - commentary - Cramer's Take). My colleague Scott Rothbort has written an outstanding primer on this space, which is very attractively-priced right now.

Of course, many will argue that the dollar's strength is ephemeral, and the euro will crash to earth once interest rate trends in the U.S. and Europe start to change direction. I'm not so sure. After all, as long as Uncle Sam is running budget deficits, the dollar will remain under pressure.

Others will argue that the U.S. will never be as cheap as China, and manufacturing erosion is bound to continue. Well, the Chinese yuan is finally starting to strengthen -- a trend that is likely to continue if China ceases to wash all of its dollar earnings. Soon enough, the added logistical costs of exporting around the world will meaningfully offset the relative currency advantages that China holds (A controversial opinion, to be sure).

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David Sterman has been an equity analyst and financial journalist for 15 years, most recently serving as Director of Research at Jesup & Lamont Securities.