What would delaying the Washington Treaty until 1927 change?

What happens if the Washington Naval Treaty is delayed by five years, until 1927?

The scenario allows the cancelled postwar capital ships to be built, encourages larger carriers and continued design development, and suggests a later treaty based on construction quotas. Younger fleets and preserved shipbuilding capacity would change the balance of power, although the political consequences remain uncertain.

Delaying agreement until 1927 would let construction continue while negotiations remained unsettled. G3s, N3s, Lexingtons and their Japanese contemporaries would provide the new starting point. A later settlement could regulate construction rates and replacement instead of using the original aggregate tonnage limits. Continued orders would preserve industrial capacity and replace much of the First World War fleet before the late 1930s. Smaller wars remain a speculative outcome, and stronger fleets would not guarantee peace.