Who Wins WWI if America Doesn't Enter the War?

[JacobL]

Stalemate, by that meaning negotiated peace.  No US=no ability/will to launch the required offensives to cripple the Germans soon enough.  If the US was for certain a neutral and took careful steps to avoid being sucked down by either side losing the Entente is in much worse shape to win the war.  Germany cannot win the war BUT no US=no war guilt clause, no technology restrictions and far less detached lands (france will regain theirs, germany forfeit russian lands but their pre-ww1 borders likely stay the same in the east absent a few random Polish towns/villages.)  Colonies/fleets still lost and the UK would be happy to end the war on such a note almost certainly. Though fleets would be lost and rebuilding monitored at first they will almost certainly face no restrictions inside 3-5 years.  Not like Germany could rebuild their navy at such a time anyways.  Germany's allies still die and post war is still enough of a mess that some twisted WW2 still happens and the Kaiser still falls.  The other treaties with lost central powers are probably a bit more fair as well. 

On paper Germany still losses but compared to what actually happened it will seem like a white peace.