Another suggestion: FDR. What's he doing? I mean, yeah he isn't president any more, but I just don't see him sitting quietly and watching as the Axis implacably march to world/Eurasian domination. Also, what's happening in China? Have they made peace? Or are they slugging on?
You have a good point about FDR, as long as he had some kind of power or public voice he certainly wouldn't stand for that.
I'd imagine Roosevelt being a vocal advocate for Britain, but now they're out of the war. I could also imagine him being involved with fundraising and more direct efforts like Chennault's in aid of China.
But China is a classic stalemate. There's no way the Japanese can occupy the whole country, and the Nationalists don't have the means to drive the Japanese out of their coastal enclaves. (The Japanese military in OTL had begun to realize that this was a quagmire well before Pearl Harbor.) The best the Japanese could really hope for was a treaty that would give them Manchuko and maybe Shanghai and other port cities, which is a bit redundant if they have Hong Kong.
Huh, so you can get something through Japanese skulls after all, even without occupying their homeland.
With that said, peace with China, well I think the minimum Japan would ask for peace would be the Chinese recognize Manchukuo and Mengjiang, as well as Japanese annexation of Hong Kong (that's right, no more lease) and Hainan. They could ask for amnesty for Wang Jing-Wei and his collaborators, but more likely they'd be exiled to Japan with Chiang agreeing never to demand their extradition (they could still be useful as governors or something of Hainan or Hong Kong). The eastern Chinese cities can go back to China, Japan already has Hong Kong as you mentioned, no point in getting greedy.
Speaking of Hong Kong, is it just the city, or does it include the Kowloon Peninsula and the rest of the New Territories too?
Finally, plenty in the IJA will be unhappy with minimal gains (though I imagine the IJN will be quite satisfied with gaining Hainan), but if it can be sold as 'freeing up troops for refurbishment and reinforcement for a potential push into the USSR' it's likely they'll swallow the pill and accept what's on the table.
Actually, events elsewhere with a focus on Japan and the US is going to be the subject of the next update.
With regard to the China war, how significant is the flow of outside assistance to the Nationalists being cut off? My impression was that they were pretty dependent on it, but I'm not an expert in this area and welcome further information.
Well, moving German farmers into Poland (and maybe Ukraine and/or Byelorussia), enslaving the Slavs... can always wait for final victory.
And it SHOULD wait. If Wagner even plans on doing this.
Indeed, timing is, as always, of considerable importance.