alternatehistory.com

On November 1786, William Bolts was given a contract by King Gustav III of Sweden to discover an island off the coast of Western Australia, where a Swedish colony and trading post could be established. However, the plan was shelved after Sweden became embroiled in war with Russia the following year.

What if Gustav decided not to go to war with Russia, allowing the plan to go ahead? I doubt that Sweden will keep it's Australian colony through the Napoleonic Wars but it's still interesting to talk about it.
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