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Over one and a half years, the attention of investors around the world has been focused on the confrontation of the two largest economies in the world. The aggravation of trade relations between the United States and China was one of the main reasons for the correction of world markets and the general risk aversion. The shifts and changes triggered by this conflict require more considerable attention since they bring about fundamental transformations of the landscape of international relations and the practice of economic interaction not only in relation to the parties to the conflict but also for the whole world, this conflict is not just a confrontation between the two strongest economies of the world, but also a turning point for updating the configuration of the world order. This article aims to analyze the reactions of US and Chinese stock exchanges in connection with the unfolding of a trade conflict between the two countries and assess the level of adaptability of two economies to external challenges. The methodology of this study bases on the fundamentals of the general economic theory and the general theory of conflict resolution - the research bases on the comparative method. The significant elements composing the scholarsu0027 analysis of political reality underlying the conflict is presented as well as stock exchanges’ dynamic through the development of the confrontation. The main conclusion of this study was that this conflict is not just a confrontation between the two strongest economies of the world, but also a turning point for updating the configuration of the world order.

US - China trade war: reaction of stock exchanges to the transformation of the foreign policy agenda