The Balfour Decleration which the zionists loved didn't even offer to create a Jewish state instead it was to be a Jewish homeland which is more like the binational state some people propose today as a solution to the palestinian problem and thats all but the most hardline the zionists wanting nothing short of a Jewish state were even interested in creating. Zionism was still in its infancy as an ideological movement and zionists were a tiny minority in Palestine mostly living in settlements which eventually became kibbutzim. For the most part zionists were European Jews escaping the pogroms. If the arabs had accepted Balfour the Jews would have their homeland and the goals of zionism would have been achieved so it probably would not have had the same attraction to the people who supported the idea of a Jewish homeland but were not looking to go live there. Would supporters of the zionist cause like the Rothschild's continued to be generous to the zionists if they had their homeland rather than jut settlements? The Jews in the jewish homeland would have been helping their arab neighbours because the zionists with their advanced agricultural methods wanted to do that including Chaim Weizman when he was trying to sell the idea of Balfour to the arab world. If the arabs didn't reject Balfour arabs & Jews may have spent the last 95 years living peacefully together in a single state ( the binational idea is not an option anymore ). So if the arabs had not rejected Balfour them may well have stopped zionism dead in its tracks back in 1917 but because of their opposition to it and the fighting with Jews of Palestine zionism attracted more and more supporters and it grew as an ideological movement. Today zionism is to well established to just kill off the way it might have been possible to do when the movement was in its infancy back when Balfour was the solution we wanted.
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