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Let's say both UK and France see writing on the wall in 1919 and take a hard look at their colonial possessions - and decide it's time to get rid of them, damn the consequences for local population. Easier to sell arms to local strongmen and buy resources from them. How rapid decolonization is feasible?
How much stronger would France be in 1939 if not burdened by Indochina and French Africa? I would guess Algeria would stay?