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The word "失之交臂" is formed from four characters: 失 means "to lose", 之 is a grammatical particle linking elements, 交 means "to cross" or "meet", and 臂 means "arm". Literally, it conveys "losing it by the crossing of arms", where the combination creates an image of missing something by a narrow margin, as if an opportunity slips away just as arms are about to touch.

Word Definition - 失之交臂

shī zhī jiāo bì to miss narrowly; to let a great opportunity slip