This US strategy assumes a kill UK/China first strategy for Japan (which is optimal).
Build up your US fleet until it is unbeatable. Send a couple of bombers to Queensland. If TRUK is open send a transport + inf to take it. Otherwise you can send inf + art to help retake ANZAC national objective. These are distractions.
You want to be prepared to threaten Japan US5.
I normally start by buying subs the first three turns. Maybe the odd DD or Bomber.
Turn 4 buy transports + stuff to put on them.
Turn 5 buy bombers (or more subs) + naval base on midway. Turn 5 move everything to Midway.
You can now potentially land on Korea, Japan (difficult to screen attack, Japan needs to use 3 DD’s), Okinawa, Iwo Jima, Mainland China (taking Hong Kong next turn if possible)
Japan is forced to reinforce their home islands, especially with fighters.
If Japan effectively defends, keep building up forces on Midway until you can take and hold Sea of Japan. Ultimately you want Japan to be forced to retreat their fleet to their home islands before India/China falls. In this case you would need to send some transports + escort to TRUK(DD screen if necessary), replenishing Midway with more loaded transports from WUS; to threaten DEI/Phillipines. ANZAC can reinf with fighters as needed.
A competent Japan can counter this, neutralizing UK (not necessarily taking India) and demolishing China while keeping their fleet at home. Part of their fleet would have to be kept near DEI.
In this scenario can the Allies outspend Japan? Probably not. Japan builds directly in Sea of Japan while USA builds on west coast. US is always one turn behind Japan builds.
Also, once China is gone, Japan retreats ALL of their airforce to home islands, builds all subs one turn and can effectively strike at US fleet off Midway. US forced to retreat to Hawaii.
Using this strategy can Allies win? Against a strong Japan player, no. Against a mediocre player, yes.