How could a renewed Anglo-Japanese alliance work after the Second World War?
Short answerIt would more plausibly be a Commonwealth-Japanese defence agreement accepted by Australia and New Zealand as part of containing the Soviet Union and supporting Korean War operations.
NotesThe scenario assumes the historical outcome of the Second World War followed by a British imperial federation or reorganised Commonwealth. Japan would already have been defeated and rebuilt as a buffer against the Soviet Union, giving the United States a reason to accept a new defence agreement. Australia and New Zealand would participate in the Commonwealth's decision. Soviet containment and Korean War deployments provide possible motives, with actual postwar cooperation over Korea offered as a precedent. Their participation in the decision would help explain Australian and New Zealand acceptance of the hypothetical pact.