Passage 1
In 1961, when Gen. Park Chung Hee seized power in a military coup, yearly per capita income hovered at a bare-bones $100. Park committed Korea to exporting its way out of poverty, and his strategy was as simple as it was effective: shower the country’s fledging conglomerates with huge subsidies, government-based loans and official favors and turn them into the world’s suppliers of bargain-basement textiles, footwear and light industrial goods.
The results have been dazzling. For two decades, Korea has sizzled along at an 8 per cent annual growth rate. Exports have surged from $119 million in 1964 to $29 billion last year. Per capita income, now $2,000, could reach $5,000 by the end of the century. Korea boasts a literacy rate of 95 per cent, a standard met by only a few of the most advanced Western nations. The once provincial capital of Seoul teems with energy and sophistication.
36.What do “hover” and “bare-bones” mean in the passage?