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Just a vague thought, but:

Some scenarios in which the world wars are avoided have European colonial empires continue to the present day. These are sometimes criticised, usually on the grounds that a movement towards national consciousness and awakening was already on its way in some colonies even before WW1, and guerilla fights for independence might have happened even in a peaceful 20th century.

However, what about another aspect - economics. OTL, supporting colonies was usually an economic drain on the home country and by the 19th century they were rarely profitable; however, by that point empire-building was a popular means of making your nation's name in the world and comparing virtual penis size (which explains why Sweden didn't bother much with colonies, hem hem).

So if we avoid WW1 and the Great Depression, do you think it's plausible that mounting global colonial debt (and perhaps the costs required to suppress independence-minded native freedom fighters/terrorists depending on one's point of view) could have triggered an economic collapse?
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