Meaning of the word "knife edge" in English

What does "knife edge" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

knife edge

US /ˈnaɪf ˌɛdʒ/
UK /ˈnaɪf ˌɛdʒ/

Noun

a situation of extreme tension, danger, or uncertainty

Example:
The negotiations were on a knife edge, with either success or failure possible.
The company's future hung on a knife edge after the financial crisis.