You have a very good grasp on Germany strategy. Definitely the fighter fleet is key to German defense/offense.
My comment is that the Allies do not have to overbuy navy as much as you might think. If you don’t buy a carrier the first turn, as UK I would build 1 carrier + 1 fighter and destroy your Baltic fleet and invade Norway full on, and deploy the carrier/fighter with the battleship/2 trans. Only 4 German planes will be able to try to attack that fleet if the Germans invade Anglo-Egypt seriously. After that I would build one more carrier with the UK and have the US land his fighters on it. Along with the US’s two destroyers and 1 battleship, the combined navy is strong enough to repel any aerial assault on it unless you insist on building fighters.
That’s quite an interesting thought about building 1 fighter every turn, though. I never thought of trying that to force the Allies to buff up their navy a bit to respond to that. The problem to me is that you could have gotten 3 infantry instead of that one fighter, and still have 1 IPC left over. If all the Allies are going after you, you pretty much want all the fodder you can get. Although maybe the fighter will be worth it if it forces them to build up more ships. It seems to me an economical waste overall though maybe, because every fighter costs 10 but transports only cost 8, which is what the Allies would be taking casualties on if you assaulted them. They could just overbuild transports and rely on 2 loaded carriers + 2 battleships + 2 destroyer for their firepower while you’re hitting easily replaceable transports with your costly air force.
Another alternate strategy I thought of with Germany is trying to research rockets if you’re convinced they’re all out to get you; like spend 15 IPCs in the first few rounds on 3 dice to try to get it. The investment usually manages to pay for itself before the game is over, and it can really put the breaks on the Russians since they’re losing about 6.5 IPCs on average which is devastating. With Japan coming from behind with anywhere from 6-9 tanks from factories every turn, Russia can quickly collapse, allowing Germany to quickly blitz its territories back. Or potentially the game would be over if you’re playing with 9 victory cities if Germany hasn’t lost any of his.