Emerging markets could provide a bright spot -- their share of global economic growth is forecast to rise to 75% by 2020 -- but as their role grows so will the risk of increased volatility.

China's future, particularly the ability of its new leaders to manage the rising clamor for access to information, is critical, argues Eurasia Group.

"Uncertainty over China's short- to medium-term trajectory is an order of magnitude greater than that of any other major global economy," Eurasia Group said.

If that wasn't enough to upset the most upbeat of optimists, the WEF survey found concerns about rising greenhouse gas emissions and the impact of climate change have increased significantly.

That may not come as a surprise after Hurricane Sandy, fires in Australia and flooding in China. 2012 was the warmest year yet in the United States, and the cost of weather disasters could end up topping 2011's record $60 billion.

Economic and climate stress makes it harder to find solutions to either. Against that backdrop, Davos delegates may be forgiven for grabbing a few moments to simply enjoy the snow.