Final answer:
The average world savings rate is calculated by summing the savings rates from all countries and dividing by the number of countries. The world average is about 22%, with America's savings rate lower at 17%, and regions like China and the East Asian Tigers saving upwards of one-third of their GDP.
Step-by-step explanation:
To find the average savings rate in the world, one would add all the individual savings rates of countries and divide by the number of countries. However, this task is vastly complex due to the varying availability of current data for each nation, but it's established that compared to other countries, America's savings rate is relatively low. America's national savings, which includes savings from individuals, businesses, and the government, is about 17% of its GDP. Meanwhile, the world average savings rate is around 22%. Countries like China and the East Asian Tigers have some of the highest savings rates in the world, often saving one-third or more of their GDP, which fuels their rapid economic growth and extensive investments in both physical and human capital.