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Presuming that after the assassination of Francis Ferdinand, Russia had decided that Serbia had dug themselves too deep a hole and had not intervened during the crisis, and Serbia had been forced to agree to all stipulations of the Ultimatum, and also presuming that if war had started between Serbia and A-H, Russia did not intervene (at least overtly), what would the world have looked like in the coming years?

Other presumptions: Germany and Britain had managed to agree upon a naval accord with one another, limiting the High Seas Fleet to ½ or ⅓ the size of the Royal Navy. France may or may not intervene, but I cannot see them doing such without British or Russian backing.
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