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I`m basically re-starting an old thread of mine, but for simplicity`s sake I`ll limit the focus on Germany only.

Now, for the sake of discussion, lets assume after a negotiated end to WWI, Germany has annexed Luxembourg, Austria (with South Tyrol and full Burgerland) and the Sudetenland after a hypothetical A-H dissolution, and lost all her colonies at the peace table. How would this Greater Germany compare to the Third Reich in the early 1940`s, provided that no great war has happened in the meantime and that the Germans still think they are in danger of being encircled by France, the UK and the USSR?
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