Well if it happens around 1900 or so it's better for europe. I can see maybe Roosevelt never gets office, so the POD is a certain President not dying. So America is interested in world events, and markets but not in the manner only TR could pull off.
So the place is divided between France, England, Japan, Russia, and who ever elese wants a slice. I see Russia taking Manchuria, and the mongolian region. Britian could be the fastest to take the capital, and carve a nice section of the coast for themselves. France can just spread up from Vietnam, and Japan would get little slices here and there, but not much more. Germany would get into the game as well, and take what land they could.
There would still be a China to the West, and assuming that WWI is not butterflied away, then China could still be in the world. If WWI is somehow avoided or delayed, more of China seems to disappear, and expect a larger front in the war. A copy of German Southwest Africa with the small german force running throughout the region with larger forces going after them. An interesting side not eof such an event is Japan taking a larger par tin the war, and maybe getting some better respect during the Peace Talks cause of it.