If the setup is like the 41 version of AA50 then yes I think it will be balanced.
Something that I noticed about that version- after playing both versions several times- was that unlike the 42 version of AA50, the 41 left a more “open” game and more possiblities. Both sides still have there advantages, but in the 41 it is more extreme- the Allies start with more cash and land but much less units, the Axis start with less cash but a LOT more attacking units in the beginning.
Since the global game will start in 1940, I expect that the setup will be somewhat similar to the 41 in AA50 where the game is more “open”. The 42 is a more restrictive, predictable and a more “closed” game because the variables are few and the constants are set in stone more in regards to position, income and units attained.