Economic concerns dominate global summit

DAVOS, Switzerland -- The fragile state of the world economy, coupled with the relentless turmoil in Syria and the rocky fallout from the Arab Spring, dominated discussions during this year's annual gathering of the global elite at Davos, leaving many participants uneasy about what lies ahead as they left for home Sunday.

Even broad agreement that there are some positive signs on the economic front, at least in emerging markets, was coupled with a warning from the head of the International Monetary Fund.

"Do not relax," Christine Lagarde said. There's still a "risk of relapse."

More than 2,500 of the best and brightest in business, government, academia and civic life gathered for the five-day World Economic Forum at this Alpine resort. But much of the overt glitz and glamour that is a usual feature was toned down or absent this year, a decision founder Klaus Schwab said reflected the serious issues facing the world.

Political and economic issues vie for top billing each year at Davos, and this time, the economy had the edge, with a special focus on how to promote economic growth and jobs, especially for the youth among the world's 220 million jobless.

The IMF said that China, Africa, and other emerging markets could see significant growth, but Japan, eurozone nations and the United States are likely to struggle with negative to low growth.

Ahead of the 43rd forum, the IMF downgraded its forecast for global economic growth this year by one-tenth of a percentage point to 3.5 percent.

Davos participants' uneasiness about the world economy was matched by growing concern over the political turmoil in the Arab world, terrorism in North Africa, a spate of natural disasters that have highlighted the failure to tackle climate change, and the growing inequality between the world's "haves" and "have nots."

The Arab Spring uprisings have ousted dictators in Tunisia, Yemen, Libya and Egypt over the past two years. But now Islamists and liberals are wrangling over power, with Islamists mainly gaining the upper hand.

Democracy is far from certain, and economic woes have left hundreds of thousands of young people jobless and frustrated that their "revolutions" haven't produced any dividends.

Elsewhere in the Middle East, Israeli-Palestinian peace talks remain stalled, Arab monarchs remain entrenched, and the death toll from the escalating civil war in Syria has topped 60,000 with no end in sight.