das said:
There's a reason they lost that "will to dominate". Incidentally, they lost it before WWII, even if they ever had it.
I did happen to say that, yes.

Considering they went on to conquer a fourth of the world's surface over the course of a century and they believed they had every right to do so, I fail to see what postulation there is to be had on the matter of whether they
wanted to rule. It could be said at worst they "found" themselves in the situation and accepted it, if they did not actively endorse it.
The point remains, it is easy to do away with with some simple changes of events.
And given the
magnitude of things that are neglected or ignored
for no stated reason whatsoever in that timeline, it'd be rather easy to just conjure up a reason and never mention it (just like the atomic bomb or the space program) without being out of sorts with the rest of it. By the end of that timeline they certainly seem to want to reestablish empire anyway, so if one's going to stop Germany from being weak one may aswell accelerate the effects of British nationalism too.
Or we could come up with a rather quick and dirty alternate history that's about as detailed and suits the purpose better. Here's a quick stab:
- Kaiser Wilhelm II dies somehow late in the 1880s. Party.
- His replacement isn't quite so reckless and doesn't alienate Britain by doing dumb things like a naval arms race, or fire Bismarck. Germany develops decent ties with Britain by being non-threatening to them while building up its land forces.
- WWI in the West is short and sharp with Germany knocking out France via the Sclieffen Plan. Britain sits by, no longer so paranoid of German intentions abroad.
- WWI in the East is a grueling sort of affair until Germany deploys that Vladimir Lenin chap sometime in 1916 - 1917. Something vaguely resembling the Russian Revolution occurs and he comes out on top. The war ends.
- There's peace and prosperity.
- Japan gradually encroaches on China and the rest of Asia.
- France being humiliated and weakened by WWI, Japan snaps up its Indochinese colonies, comes into conflict with Britain and the Dutch in SE Asia.
- There's some sort of back-and-forth war in Indochina between the Colonials and Japanese. Somebody wins some, somebody loses some (probably the Dutch). Some third party (USA?) intermediates a solution as before during the Russo-Japanese War.
- Germany builds up land power in Europe, becomes the leading continental power.
- USSR gradually builds up capabilities and decides to begin exporting the Revolution.
- Japan, having possibly secured Borneo and having oil resources, focuses more and more on China, playing warlords against one another and gradually making progress, finds itself at odds with the newly formed USSR.
- A few more tit-for-tat wars occur, with the world winding up in a shaky peace for a few decades as no side has the capability of quite beating the others. The following power balance develops:
Soviet Union: opposed to almost all other "capitalist" powers.
United States: mostly neutral, no real alliances either way.
Great Britain: wary of German power on the continent and Japanese power in the Pacific, distrusting of Soviets; may seek to align with America against the rest, competes with Japanese
Germany: wary of the Russians, nominally allied with Austria-Hungary, having to watch out for French and Italian upstarts.
Austria-Hungary: see above
Japan: wary of British, Russians, to a lesser degree America; may seek to align with it out of fear of the other two.
Then there is a plethora of up-and-coming powers like a revanchist France, or expansionist Italy, plenty of lesser countries (like all of South America and the Chinese factions) that can fight amongst themselves, and a whole bunch of possible rebel activities.
Is it perfect? Not at all. Realistic? Probably not. Easy to flesh out and improve? Yes. Is it easy to come up with a scenario that preserves a multipolar relationship that could explode at any moment? Yes. Alternatively one can go back even farther, and do something like prevent America from ever coming into being in the first place, and having a more colonial world that keeps its grip on its possessions well into the 20th Century. If one's willing to settle for something as shoddy as that WWII alt-hist, then even two or three centuries can be whipped up in a similar fashion with little hassle and better balance.
However, if anything, I'd say balance is probably a
bad thing, simply because that balance goes out of whack very quickly because if powers are
balanced they don't have much reason to fear one another and immediately go to war (see: LuckNES2). Once the balance shifts it tends to go irreversibly in one direction or another with little or no means of restoration, leading to those two blocs duking it out with a singular unipolar situation at the end for whoever wins. That's going to occur pretty much no matter what as long there are equal powers (multiple or dual with others clustering around). You can only hardcode it in by introducing multiple, very strong competing interests (something like the above or stronger, preferably), assigning those powers to very paranoid people, or devaluing war (which is one of the areas where I'd agree with NK: most NESes are just about that these days).
Um... what major weapon depots? If they are this easy to secure they will presumably be captured immediately by the first warlord or bunch of anarchists that finds it.
Yes, and that warlord will then go on to kill the neighboring warlords, take their stuff, become more powerful, and repeat (which is why Anarchy is the stupidest of all possible political philosophies: it promotes this, but I digress). In that regard it's hardly a "fresh start" but rather a few fragmented states utilizing old (probably radicalized) local ideologies to gain power over the people, and that situation won't last long in the context of the history at all, let alone when players actually take it up (and begin eating each others states).
Plus it's rather difficult for a society to collapse in an effective manner when most of their able-bodied men-folk are off being conscripted soldiers in some far away land, unless one wants to presume some grand feminist revolt. Also, looking at the power line-up, it seems somewhat... odd. I'd have to actually read it and understand where it was coming from to put a lot of faith in it.