What accounts for the rise in the global private savings rate?

Globally, the private sector savings rate rose by 4 percentage points of GDP between the periods 1996-1997 and 2010-2019. We ask two questions: Which countries (regions) have caused the global savings rate to rise? Primarily the United States, China and oil-exporting countries; How has the increase in the global private savings rate been used (at equilibrium, the adjustment in real interest rates equalises global savings and investment rates)? It has been used to increase the fiscal deficit and non-construction investment.