What if Kaiser Frederick III did not die of cancer and reigned into the twentieth Century?

I wonder what would have happened had Kaiser Frederick III not died of cancer in 1888 100 days after his father Wilhelm I. Let's say he did not have cancer, had full use of his voice, and lived say as long as his father which would put his death somewhere around 1920.

What would Germany look like? More liberal? Moderate? Still Conservative? What would have happened to Bismarck? Frederick' son, the future Wilhelm II? And what would be the role of the German military? What would his reign have been like after the death of his beloved Empress Victoria? Would there have been a Naval race with the British? A Triple Alliance? A need for a Schleiffen Plan? What would be the relationship between Alexander III and Nicholas II of Russia and himself? Queen Victoria/Kings Edward VII and George V?

Would Germany have truly benefitted from a longer reign of Frederick III prior to a reign of Wilhelm II?
 
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