Wonder what will happen if China or Russia join in
With all sort of subsidies to encourage overseas companies to setup labs within China/Russia itself.
Regardless R&D or actual chip manufacturing, maybe with homegrown gear since US seems to be trying to prevent related equipment from getting there.
Might be harder to operate in Russia, but I can see China doing something like that. Especially for advanced R&D. Once knowledge is generated, it will probably reach others within China via "osmosis".
Or Russia and China may want to do R&D together......