[Matt W]

Why go to all the effort of invading?

Item 1: World War 3 would mean MAJOR problems for the UK in terms of importing enough food.

Item 2: Argentina is a major food exporter and has a fairly competent/large military-industrial complex

I can see a simple diplomatic proposal from the Argentines.

"Remember Lend-Lease? In WW2, you gave the Americans lots of money (and naval bases in the Caribbean) in exchange for some obsolete cruisers. Our version of Lend-lease will be a little more generous. We'll give you food, ships, planes, weaponry and strategic metals. We'll even ship it for you. All we ask in exchange is a little cash and the right to put a Naval base on the Malvinas... I mean "Falklands". After all... if we're sending convoys to you... it would be really helpful to have a resupply point there."

"Oh.. and if you want anything else? Copper perhaps? I'm sure we could put in a good word for you with the Chileans. It's time that dispute in Antarctica was settled. Or perhaps you're running short of rubber? I believe Guatemala might be willing to provide a vast amount. Assuming that you were willing to be reasonable about Belize, of course"

BOTTOM LINE: Historically, the UK has been willing to sell off bits of Empire when it really needed to (for example, Churchill was willing to give Northern Ireland to Eire if it allied with Britain) Who knows what the South American nations would be willing to give in exchange for a few islands? Would we see the RAF operating Pucaras, perhaps? A supply of Argentinian FAL rifles for the TA?