The processes of globalization in the context of geopolitical transformation affect the intensity and direction of capital flows, contributing to changes in its forms, and these processes are subject to the impact of many risks of the external environment, and their result depends on the stability and adaptive capacity of both national economies and regional associations. The methodological basis of the article is: comparative and statistical analysis using a systematic approach based on the theory of reproduction of K. Marx, with special attention paid to the circulation of capital and the relationship of these processes with changes in the size and structure of the final product. The article systematizes a set of cause and effect relationships underlying the crises of the American economy in the XX-XXI centuries. It also analyzes the reasons for the formation and features of the turnover of fictitious and speculative capital in different historical periods. The role of cyclical processes in influencing both the sectoral and sectoral structure of the national final product is revealed, taking into account the servicization of the economy in the conditions of digital transformation. Such approaches in conditions of increasing uncertainty allow taking into account a greater number of mutually influencing factors while increasing the complexity of planning and forecasting processes and thereby reducing risks.