The other question is whether it will make a profit after accounting for piracy. I assumed this was already well-known, but you can go to China and buy pirated games on the open market. Sometimes literally the open-air market. I bought a few game CDs to see what was on them when I was there a few years ago. And this is not even mentioning illegal downloads from Chinese sites online, which are not blocked by the Chinese government. They simply don't bother, as with a whole slew of other laws (e.g. environmental).
Maybe that could change if publishers did not face censorship (which they morally object to) Let's see whether the unbanning of consoles this year will mark the beginning of policy change. I doubt it will be soon.
There's of course Chinese speakers in other places in SE Asia as well, particularly in Singapore and Malaysia. But piracy is also rampant there. Maybe it's a cultural thing. Some stereotypes mirror good statistics. e.g. you can find people shooting AK-47s (often these are locally made) into the air during festivals in Pakistan etc. It's not just a racist fable.
And yeah, Paradox will likely remain banned due to also making Hearts of Iron. And probably they know someone will make a WWII mod for EUIV if they couldn't get the former anyway.
/rant