I'm currently just in observation mode because I wanted to see what happen.
France has become insanely powerful is what happened. England, over the course of several wars, was gradually kicked into non-existence by Scotland, who ended up forming Great Britain. Aragon was gradually divided up between Castille (who formed Spain) and France, and then France decided it hated Spain too and now there is Northern Spain, Southern Spain, and the French claim that runs in between the two all the way to Portugal. France has won every single war is has entered over the last century and has won wars fought in Africa, North America, South America, the Caribbean, and in Europe just in the last two decades.
Even the coalition, even before Austria left, has failed to reverse the tide, only delaying it at every turn and preventing Spain from falling further than it has. Spain has colonized most of South America, but France has a large presence in the Caribbean and Venezuela. Portugal is largely limited to the Caribbean, but now has a colony on the Mississippi. France is now colonizing Manhattan and the New England area. Norway claimed Nova Scotia.
France has a colony in West Africa and the only thing that stopped France from swallowing Mali was the coalition. Unfortunately for the coalition, France has made inroads into India, gaining a foothold despite the surprising initial repulsion by Persia.
The Creek are still around. They lost badly to France who, while taking no land in the peace deal, broke the country hard enough that rebels tore the country in half for a few years. The Aztecs, Incans, and Iroquois have not looked down the barrel of war yet.
France might be contained for the time being in Europe and West Africa, but it looks like India will face the blunt of the hurt soon.
Finally, the Ming collapsed spectacularly. I'm not sure what happened because I wasn't paying much attention. It looks like they were doing fine and fended off an invasion or two before Chinese peasants and the Orient Horde broke the Ming. One successor state, Xi, at long last looks to be in the position of reunifying China. But the other problem is Japan.
Japan has beaten the mess out of the Manchus and a surprisingly large amount of Manchuria and Northeast Asia is Japanese.