More a Tactic than a strategy.
If, at the end of a combat round against France G1, there are just one or two French units left, Germany can consider a retreat. Now Italy captures France turn one. As long as you’ve built a carrier and two transports to threaten Sea Lion, UK won’t dare send enough air support to hold France.
Of course lacking the twenty three extra IPCs, Germany must abandon any thoughts of a turn three Sea Lion, but that gets Japan into India all the faster. This, coupled with the enormous boost to the Italian economy, should be enough to crush the Middle East and Africa.
Would anyone do this if they opportunity arouse?