Spain Keeps Micronesia

After the Spanish-American War, Spain sold Micronesia to Germany. Spain sold them because they were worthless without the Philippines. In OTL, Micronesia went Spain --> Germany --> Japan --> USA --> independence.

What if, thanks to pure inertia, Spain keeps the islands after the S-A War? What developments occur in the Pacific?
 
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Japan would probably try to buy them out. If Spain still tried to keep them Japan would likely just invade at some point, and Spain probably wouldn't really care.
 
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I don't thinks Spain could make much of them, they are a group of unimportant islands. As the above poster said Japan would probably invade them in the early 20th Century with little to no resistance from Spain.
 
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