There are a TON of butterflies in this but it's an very interesting thought. Here's what I see potentially happening;
- Germany focuses on developing it's colonies. This includes economic as well as militarily. The two main points for the homeland in this is to exploit/explore natural resources and develop the economic ability of the region to fully exploit those resources. In the meantime the military bases (Naval and Army) are expanded and modified with huge capacity for storage so that if these bases were to be cut off they could be self-sustaining for long periods of time.
- This creates a dilemma for the UK as Germany is not challenging them outright in the Naval Arms race, but they are looking to expand the industrial reach throughout the globe. This may or may not be an issue for the UK depending on how Germany deals with the colonial 'rubs' that will most likely happen with British colonies. However there are very few spots which should cause 'border' type issues with the UK.
- If there isn't the split between Germany and the UK I see the relationship between France and Russia becoming stronger. If that happens I see the UK becoming increasingly hostile towards France and Russia. These two have numerous flash points rubbing up against UK colonies and strategic points on the map.
- The interesting one is how the US develops in this environment. I don't see a 'natural' side they would gravitate too. If the UK and Germany become more strategically aligned I think it crimps the US industrial growth. There won't be as much demand for US products globally and the governments of the US and the UK don't become as close. that will have long term repercussions.