Update:
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Part 4: Japans power fades.
In the mean time back in Vietnam the British had taken back the Chan States. A lot of the 1 million Japanese soldiers there where able to prevent themselves from being captured by escaping through Siam, a country that was under heavy pressure by the Japanese. It might be neccesary to take Siam by force to prevent any diplomatic actions of te Japanese to turn them against China. At the moment though they still had another million japanese occupying Vietnam, and now the Japanese had no fleet anymore the Americans would surely start landings all over the Pacific. They need to find a way to break this troop concentration.
First they attempted an amphibious landing South of Hanoi with the surviving transport ships. This was a disaster as the landed troops where totally overwhelmed by the Japanese precence. They have to use their naval bombers to break the japanese and then storm their positions near Hanoi.
In the mean time the demand of occupying even a small island in the Pacific grew, Jeju Island was targeted. All 6 transports of the PLN where filled once again with troops and send there. Actually the same troops that failed to take Okinawa.
cliffs of Jeju island
They arrived and where totally suprised to see that the Japanese had double the expected troops on Jeju island. First attacks on April 11th 1946 failed, even though they had double the troops climbing up the cliffs. The Japanese where just too well prepared. They had made it nearly impossible for any soldier to get up on the cliffs alive. Eventually, when over 2000 soldiers lay dead on the beach and no dent was made in the Japanese defences they retreated.
2 weeks later they made another attempt with just a little more tactic under their belt, and more troops. 1 more Transport ship was loaded up and joined the other 6. They left with full hope. But, in a came a factor they thought they had taken care of. When they arrived a second time at Jeju island they where waited for by a group of Japanese light cruisers and destroyers, the only thing the Japanese had left floating(anything heavier was already sunk). They should have thought of that... When the transports spotted the Japanese ships they didn't hesitate and tried to retreat, but the Japanese had already opened fire and the destroyers where much faster. Only 1 transport made it back home. Over 100,000 Chinese soldiers drowned. Mao had hoped the Americans had already taken care of the Japanese remaining ships. The Americans did have 12 Carriers you know(only 2 sunk by Japanese and 5 by Italians), and they where still floating thanks to the Chinese as they sunk the Japanese remaining 6 while their top number was 8(2 others sunk during battle of midway, long time ago).
Well, only thing to do is build cruisers themselves. So, 5 where ordered to be build along with new transport ships and troops. They will be ready February next year. Troops and transport will be ready a lot sooner then that though, maybe before the completion of the cruisers they will attempt another attack on Jeju, the sooner the better. The advances in Vietnam wheren't going anywhere anyway. Only really awesome thing happening these days was Argentina joining the new Comintern and then declaring war on Uruguay(which isn't going well).
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Won't be looking at South America in the AAR, so no news will come from there. Just like Europe it will be completely ignored.