To continue, basically Eastern Asia is the powder keg by 1939, and war breaks out when Japan tries to attack the Korean fleet in Formosa. DoWs fly. The US sells to both sides. Austria is bribed to join the war against Germany, as is Spain, with Italy going the other way. Portugal joins France and the Brits. Germany barrels through Belgium, and wins by 1944, with France having to pay monetary damages, and give up Corsica and Savoy to Italy. Korea gets the Ryukyu Islands and major monetary damages, as well as islands in the Korean strait. The US joins the war in late 1943, and within six months there is armistice. The US is rewarded with the Philippines (which finally broke free from the Spanish yolk during the war via a homegrown rebellion), is allowed to make Hawaii a protectorate (it previously being under the sway of Britain), and reparations. Spain soon falls under civil war.
Korea in the time afterwards booms as an economic power, and becomes the premier naval power in the East China Sea, while Japan is weighed down by reparations placed on it (reminiscient of those placed on Germany after Versailes).