Most likely the south would become a colony of Great Britain in all but name, dependent on Britain to buy their cotton, while depending on Britain for just about everything except food.

The south imported most of their skilled workers, and would, no doubt have continued to do so, bringing them from Europe, Britain or perhaps Canada.

Slavery would, in time, have gone away. Plantation slaves would have become serfs. City slaves would become an underclass.

Meanwhile a few enterprising Britons, and perhaps some Germans and French, noting a good supply of raw materials and cheap labor, might have built factories. Doubtful the planter aristocracy would have had anything to do with them, so they would have set up their own communities with close ties to their home countries.

There would have been no Tennessee Williams, no O. Henry, no Thomas Hunt Morgan, no Lyndon Johnson, no Bill Clinton, no Barbara Jordan, no Martin Luther King, no Elvis Presley, no Johnny Cash, no Dixie Chicks.