I did this in a Brazil game in HOI3, it was a lot of fun. Didn't go to war until 41 when JAP declared in USA giving me the time to build two carrier groups which over the course of several years defeated the US navy but with such a heavy naval focus I was never able to take the land fight to the US.Who Cares what happens in Africa or Eurasia....my interests lie elsewhere!
Establish the Confederation of South American Principalities...or CSAP and rule from the Falklands to Panama. Then perhaps go nuts and side against the USA, expand my dominion into Central America and greet 1948 with Great War style trench warfare raging back and forth between Mexico City and San Antonio with the threat of atomic war on the horizon...
I imagine elsewhere in the world the Axis would do much better because America will be distracted...
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