The neutrality argument distinguishes American reluctance to enter a European war from the language US politicians used about protecting interests in Asia. In this interpretation, even politicians strongly opposed to a European war spoke differently about Asia, so their opposition did not imply the same response to Japanese expansion. Britain fighting Germany, Italy, and Japan simultaneously would face severe economic pressure even if it avoided military defeat. The scenario then questions the expectation of a humbled Britain by considering what would happen if it won without American entry, while explicitly treating that victory as unlikely.
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American neutrality toward Europe and Asia
The counterfactual distinguishes opposition to a European war from concern for American interests in Asia, then questions how far Washington could count on Britain's defeat.