Russians have build their own processors for decades. They have used SPARC instructions sets and they also have their own VLIW Elbrus 64-bit ISA and processors are made by TSMC for 28 nm process. It has Intel x86 comparability with system-level dynamic translation.
Just adopting new Instruction Set Architecture (ISA) is not going to help to magically boost semiconductor business.
The Russians have Baikal (T1), the Chinese have Loongson (3A/B). Both are MIPS based. Unfortunately, even though both announced that there will be consumer hardware available over a year ago, it did not happen. So I'm not too optimistic regarding RISC-V.
Just adopting new Instruction Set Architecture (ISA) is not going to help to magically boost semiconductor business.