The Socialist Union

What if the Soviet Union was never created during 1922 and the countries that participated decided to create an economic/military union that lets states keep their sovereignty but submit to a central economic group that institutes a planned economy (all share the same currency) and a combined military force. The creation of this Socialist union would include the Russian SFSR that controlled central asia, the Byelorussian SSR, the Ukranian SSR, and the Transcaucasian SFSR. Let's add that the Russian SFSR annexes Tanna Tuva and Mongolia comes under the union as well as the Mongolian SFSR.

Here are my questions:

-How would this union fare from 1922 economically?
-From the first question, if the union were to survive how would it fare in the Second World War?
 
What if the Soviet Union was never created during 1922 and the countries that participated decided to create an economic/military union that lets states keep their sovereignty but submit to a central economic group that institutes a planned economy (all share the same currency) and a combined military force. The creation of this Socialist union would include the Russian SFSR that controlled central asia, the Byelorussian SSR, the Ukranian SSR, and the Transcaucasian SFSR. Let's add that the Russian SFSR annexes Tanna Tuva and Mongolia comes under the union as well as the Mongolian SFSR.

Here are my questions:

-How would this union fare from 1922 economically?
-From the first question, if the union were to survive how would it fare in the Second World War?


If you're giving up control over your economy and military, and by extention foreign policy, how do you have any sovereignty left? I assume you mean they have their own domestic policies but if the military and economy is controlled by Moscow they are going to be pulling the strings. I guess you'd basically have an earlier version of the Warsaw Pact instead of the USSR.
 
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