For China...I'd say the Nationalists winning is really not as good as one would think. Sure, Mao was terrible, but that doesn't mean Chiang was anywhere near the adjective "good"; nor was the Chinese Republic democratic in any way, having held but 1 election (with 4% of the population voting!) in 1912. Perhaps a better POD would be a less successful Hundred Flowers Campaign that doesn't provoke a strong reaction from the Communist Party, followed by Mao dying in say, 1956? Jiang Qing sidelined, Lin Biao never rising to prominence and a moderate Zhou Enlai-Zhu De clique ruling over China witha reformist movement stemming from the Hundred Flowers Campaign, ie: Deng 20 years early.Mao Zedong dies in 1948. The CCP vanishes and the Chinese Republic stays around.
This China, as per OTL breaks with he Soviet Union (there was already antagonism with the Soviets in the Korean War), but not to the extent of OTL, eventually becoming a power in its own right.
Along with economic reforms, China and the Soviets also engage in democratic reforms, and the world is soon dominated by 3 democratic (2 of them arguably semi-democratic) powers and China rising to hegemony but not becoming a rival to the Soviets or the Americans.
Other developments may be:
- North Korea remaining sane but dictatorial
- India reconciling with China early
- India modernizing early with help from doth China and the Soviet