What they wanted was essentially a gentler version of the hegemony Hitler had in mind. Due to the reality that Eastern Europe was mostly illiterate peasants at the time there would have been not half the deliberately genocidal policies that Hitler embarked on but Germany's peace treaties with Russia and Romania show that a Central Powers victory would not have differed overmuch from an Allied victory.
If anything the *starting* coalition would have been a much more militarized United States and United Kingdom, and perhaps a fascist/communist (depends on who does what in the Russian Civil War) Russia against Imperial Germany. Germany would win a Pyrrhic victory. Whether or not Japan decides for war is an open question in this scenario. Who they side with would be even more interesting given they were an Ally in World War I. And in this scenario they're technically on the losing side and would have had to return Tsingtao and some of their Polynesian conquests gained before 1931.
no subject
If anything the *starting* coalition would have been a much more militarized United States and United Kingdom, and perhaps a fascist/communist (depends on who does what in the Russian Civil War) Russia against Imperial Germany. Germany would win a Pyrrhic victory. Whether or not Japan decides for war is an open question in this scenario. Who they side with would be even more interesting given they were an Ally in World War I. And in this scenario they're technically on the losing side and would have had to return Tsingtao and some of their Polynesian conquests gained before 1931.