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The word 岌岌可危 is formed by reduplicating the character 岌, meaning "high" or "precarious", to intensify the sense of instability as 岌岌, which then modifies 可危, where 可 means "can" and 危 means "danger", together conveying that something is so unstable that peril is immediate.

Word Definition - 岌岌可危

jí jí kě wēi imminent danger (idiom); approaching a crisis