Using your findings from the previous Questions on Consumption smoothing and efficient investment,please explain,how a country benefits from financial openness.Your answer should addressthe following:

(a) Would a closed economy have been able to make use of theinvestment opportunity?

(b) How did the open economy make use of the Current account in the case of efficient Investment?

(c) What does a country need to do to keep a negative external wealth positionsustainable?