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Could Britain/France Defeat Japan?

Thought I would put this up in addtion to my D-day thread.

Background:
-Germany is smashed by the Allies in 1939 or is defeated Blunted Sickle style
-War breaks out between Japan and Britain/France after a July 1940 incident
-U.S. is not directly involved but is sending aid
-Soviet Union is staying neutral

In this scenario could Great Britain and French defeat Japan? What help could they give to China? What would British-French moves be? What would Japan attempt to do?

July 1940 incident:
http://trove.nla.gov.au/newspaper/article/17681050

Interested in your thoughts.:)
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