Yowza! I would say it sucks not to be a white guy, but really it would suck to be anyone.

Four alliances?! Gawd Awmighdy!!
Erhem, seriously, who amongst fascists can really make the Nazis look like a lesser evil. With the exception of the Romanian Iron Guard (psychos of the highest order) the NSDAP was undoubtedly the vilest of all fascist movements. Worse than the Rexists, Petainists, and other collaborators, worse than the Italian and British Fascists, worse than the Spanish Nationalists and Arab Socialists, far worse than the Wealth Sharers/Business Plotters/America Firsters we had over hear. Who in Wotan's name is the Reich fighting?
This is Goering's Reich. The "Moderate Nazi" or "Gentlemen Nazi". Lots of population movements, some death camps for political prisoners, forced labor camps for the conquered Untermenshcen, but not the whole-sale slaughter we saw under Hitler.
Where as, there are the Bourbons(well, a Bourbon King with a hyper-nationalist majority) in France and(later) Spain, who have decided that the Germanic races of Europe are barbarians of the worst kind, and that the only way to
save Europe is to wipe them from the face of it.
They view Italians, Spaniards, Portuguese, Catalans and such as "those who have lost their way". Their end-goal is a state that spans from Lisbon to Warsaw.
Then there are the Italians. "Real-politik fascists", more or less. Mussolini, the bumbling fool he was,
did know Realpolitik. And in order to secure the Mediterean and Balkans as Italy's, and only Italy's, he has been working steadfastly since 1936 to form an alliance with Greece(that he has achieved, by the by) and one with Britain.
Germanic Alliance
Bourbon Romance Alliance
Real-Politik Alliance
And then. Then there is the scurge of the east. The Man of Steel, Stalin. Biding his time.