Germany will want peace, but Russia might eventually have other plans--hence the need for Germany to include Britain, the Ottomans, and Japan within its alliance system as soon as possible.
Russia will have its own issues that will make a war unlikely. I am of the option that Nicholas II's character made a revolution inevitable and revolutions are pretty bad for maintaining the image of a strong foreign policy. That revolution does not need to resemble OTL with the Bolsheviks taking over and the country being under one party rule. We could have:
A constitutional monarchy with checks such as the Tsar can no longer dismiss or close the Duma and the Duma becomes a proper legislature with powers exceeding the Tsar. The revolutionaries will also probably go after and sever the Tsar's connection with the Church entirely. Separating the Church and State (instead of basically abolishing it like the Bolsheviks did) could have big effects on Russia.
Or we could have the monarchy abolished entirely and a republic set up, after all the revolution of 1905 failed to restrain Nicholas so what would be the point of deposing him if someone else comes along drinking the divine-right kool-aid? Of course this would be fairly messy and complicated. Like how would the nobility react or the status and the rights of the non-Russian territories of the empire now that there is no monarch holding it together. Russian republic timelines are always complicated because of this. We opened Pandora's box and just set it on fire.
Did the SPD ever get a majority of parliamentary seats in the Weimar era in our TL?
Also, the SPD don't appear to have been lunatics. Thus, they'll probably improve the lives of the working-classes without touching the mechanics of the economy (such as the means of production) like the Bolsheviks did.
Remember that in TTL there are no Bolsheviks or Lenin telling the world what communism or socialism are supposed to be. Without that there will be more flexibility on what "communism" actually means. That makes socialism a goldmine because voters will have different ideas of what socialism is supposed to be but will still vote for the party anyway. The Social Democrats were gaining seats in every election leading up to the war. They might never go over 50% but they would easily be the dominant party and that gives them the mandate to experiment a little, I was just mentioning that those "experiments" may end up blowing up in their face if the economy suddenly tanks.
Without Communism there will also be a lot of ideological alternatives in TTL. We could see anarchism taking off, starting with the youth. Anarchism on this site I feel is underestimated but it is...complicated. Anarchism can't be represented on a left-right political spectrum because anarchism is a spectrum in and of itself. To represent it we would need a vertical bar that could be freely moved around. In other terms while we may use a political spectrum or a horseshoe to represent our politics, in TTL they might need an alignment chart.
Could there be a multinational military intervention in China similar to 1900 in the 1910s if it wasn't for WWI?
After all, was a China ruled by warlords in the best interests of Europeans?
They would prefer to do less work. If the Qing could maintain the status quo in China while handing out concessions, that would be great, but the Qing will get overthrown and that will means the Europeans will be dealing with new faces. If they had to stage an intervention I do not see why they couldn't. The trans-Siberian railway is open and Japan could be bribed to participate so a Eight-Nation Alliance 2.0 would be a go.