TSMC chairman Morris Chang doesn’t expect a speedy economic recovery in Taiwan or the rest of the world for that matter. He made his gloomy predictions known during a company sports event over the weekend, which coincided with mass protests in Taipei and capitals around the world.

Chang urged the Taiwanese government to take more action to restore confidence in the market and called on government officials to ask him for advice in case they’re not sure what to do next. Chang told reporters the worldwide economy is unlikely to recover next year and warned is was a chance of a new economic downturn in 2012.

On a more positive note, Chang claims TSMC has no plans to downsize its workforce and that it will reward its staff with an annual salary raise next year.

Interestingly, Chang also voiced his support for the Occupy Wall Street movement, describing it as a justified reaction to the every widening gap between rich and poor over the past few decades.

More here.