Britain opts to stay out of WWI, but Japan sees some low hanging fruit and decides to declare war on Germany. Japan proceeds to seize Qingdao, Micronesia, Nauru, German New Guinea, West Samoa, and the Japanese and German Cessions in Tianjin and Hankou/Wuhan.
I imagine the Australians and New Zealanders would be very angry that the Japanese have expanded so close to them and thus would be urging London to do something about it. This would probably involve outright purchase of territory, sales of arms, loans, and/or swaps of territory.
The British already contemplated giving Weihaiwei to China OTL in exchange for making the New Territories Permanent, so that'd be one place that isn't out of the question. I suppose other Chinese Cessions would be on the table. Maybe the British resign themselves to not driving the Japanese out of New Guinea, but convince the Japanese to demilitarize the place.
I imagine the Australians and New Zealanders would be very angry that the Japanese have expanded so close to them and thus would be urging London to do something about it. This would probably involve outright purchase of territory, sales of arms, loans, and/or swaps of territory.
The British already contemplated giving Weihaiwei to China OTL in exchange for making the New Territories Permanent, so that'd be one place that isn't out of the question. I suppose other Chinese Cessions would be on the table. Maybe the British resign themselves to not driving the Japanese out of New Guinea, but convince the Japanese to demilitarize the place.