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I think that a scenario where the primary focus of Japanese military action is INDIA is an interesting one. The military being used to eject thye British in return for an Indian Client State (protectorate, whatever).
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This is a good point and had the Japanese adapted a strategy aimed at India, it might have made Roosevelt's desire to contain Japan very difficult. Highly unlikely they could not have done it without giving up their aggressive war on mainland China however. I don't think that any American President could have sold a war to preserve the colonies of the European powers, either the NEI or Malaysia, Burma and India.
Peace in China with an open door there for American business interests might have complicated Winston's job of maintaining the Empire, making it far more "interesting".