China’s economic slowdown should push some U.S. industrial stocks down further, creating a buying opportunity, says financial analyst Hilary Kramer, founder of GameChangerStocks.com

China’s economy grew 7.6 percent in the second quarter, the slowest pace in three years, and down from 8.1 percent in the first quarter.

“The problem for us as investors is that we have companies we have loved,” Kramer tells Yahoo. “And they made shareholders wealthy” through their rocketing sales in China.

She cited Caterpillar, Cummins, and Joy Global as examples. “That [China’s slowdown] is going to weigh heavily on earnings,” Kramer says. And when those companies report weaker earnings, “that will shock the market," she says.

Cummins slashed its 2012 sales estimate last week, partly because of weakness in China and other emerging markets.

“If they [the stocks of Cummins and the others] break down enough, you want to get in, because China will repair itself,” Kramer says.

“I think the next few quarters could be a lot more positive.”

China’s government will take steps to buoy the economy, including fiscal stimulus and adjustment of regulations, Kramer says.

Others expect government action too, though not necessarily strong measures.

“The fact that the data shows persistent weakness — rather than a precipitous plunge — means policy makers are likely to continue incremental monetary accommodation, but not embrace a more aggressive fiscal stimulus policy response in the immediate term,” Ramin Toloui, co-head of emerging markets at Pimco, tells Bloomberg.