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End of China's slowdown? Not so fast: Expert

China's economic slowdown might be ending later this year, according to indicators from the Organization for Economic Cooperation and Development, suggesting China will avoid a sharper slowdown.

But Peter Baum, COO and CFO of Essex Manufacturing, disagrees. Based in New York, Essex Manufacturing has suppliers in China, which is why he travels to the region quarterly.

"We have suppliers refusing to quote prices due to instability in Chinese Yuan valuation," Baum told CNBC's "Power Lunch."

Peter Baum
Adam Jeffery | CNBC
Peter Baum

"Our suppliers are letting workers leave two weeks early as their factories are well below full capacity," he added.

Baum also thinks China's economic slowdown will continue to cause a domino effect on the global economy for the near future, "Examples are showing up daily," Baum said.

"New York City residential real estate is slowing, 18 wheel trucks are piling up at dealer lots forcing Navistar, Paccar, etc. to lay off people, and Walmart announced downward guidance before the holidays."