Semantics of 'static lifetime are not explained

It's never explained what 'static actually means. Currently, the only definition of 'static given is two examples of what could be 'static. Namely:

• "Both constant and static declarations of reference types have implicit 'static lifetimes unless an explicit lifetime is specified." https://github.com/rust-lang/reference/blob/b3ce60628c6f55ab8ff3dba9f3d20203df1c0dee/src/lifetime-elision.md?plain=1#L185
  https://github.com/rust-lang/reference/blob/b3ce60628c6f55ab8ff3dba9f3d20203df1c0dee/src/items/constant-items.md?plain=1#L24
• "string literals always have 'static lifetime." https://github.com/rust-lang/reference/blob/b3ce60628c6f55ab8ff3dba9f3d20203df1c0dee/src/subtyping.md?plain=1#L14
  https://github.com/rust-lang/reference/blob/b3ce60628c6f55ab8ff3dba9f3d20203df1c0dee/src/expressions/literal-expr.md?plain=1#L176

The exact semantics of 'static should be made clear.

Start by reading the linked sections in lifetime-elision.md, constant-items.md, subtyping.md, and literal-expr.md to compare how 'static is currently described. Trace the existing examples and determine where the Reference should state its semantics explicitly. Done means the documentation clearly explains 'static, with the existing examples remaining consistent.