The article examines the changes in cross-border capital flows that have taken place in the last decade. It is noted that after the end of the global financial crisis, the recovery of world capital flows took place at a different quantitative and qualitative level, and by the end of the second decade, the situation with international capital flows became generally more balanced. At the same time, potential risks have remained in it, and the threat of their implementation is becoming relevant against the backdrop of the crisis caused by the coronovirus pandemic. Analysis of the balance of payments of countries — the main participants in the movement of capital for 2018–2021 indicates both an increase in the volume of transferred funds, and a change in their structure in favor of more unstable other investments, represented mainly by debt instruments. The resumption of global economic growth is taking place under difficult conditions, accompanied by rising inflation, debt problems, falling stock markets and capital outflows. The tightening of monetary policy in developed countries, the Ukrainian conflict and the sanctions confrontation create additional uncertainty, including for investments. A study of the behavior of foreign direct investment (FDI) in the indicated period shows that their growth was slower than in previous periods and lagged behind the growth rates of the world economy and foreign trade. In turn, the fall in FDI in 2020 and its recovery in 2021 were deeper and faster than the economy as a whole. At the same time, it should be emphasized that the impact of the crisis on FDI is extremely uneven, both by country and by type of investment. An analysis of capital flows over the past decade suggests an increase in their volatility, the causes of which lie in the economic and technological transformation taking place in the world, as well as the impact of exogenous factors.