Hey, what's to stop them from having both D-Day and China?
I'm not very familiar with any COD game, but from what I understand, it has three campaigns - one American, one Russian, one British.
Here's an idea:
COD 5 has five campaigns. The Russian and British campaigns will resemble their older counterparts, though the British campaign does deal with D-Day (dropping you on Gold or Juno instead of Omaha).
Then there are the American campaigns. There are two. The Airborne one takes place in Western Europe, and has you at D-Day... as a paratrooper. You start off being dropped into a swamp, and you have to find your unit before the Germans kill you. The Marine campaign takes place in the Pacific, and will be the toughest campaign of all. Combat is mostly amphibious landings under fire and jungle warfare.
Finally, there is the Resistance campaign. This would be the best option for a Chinese campaign, though they could just as easily go to Europe and put you in the French Resistance. It is mostly stealth based. It would be harder than most, but it doesn't pit you against as much firepower, and you have the element of surprise 99% of the time.
I do like the idea of a Korean War shooter. Or, if CoD is willing to delve into a bit of alternate history, maybe have the Cold War go hot?
Also, the reason for no shooters using blackpowder weapons: 3 rounds per minute rate of fire, which translates to 20 seconds between shots. I guarantee that 99% of players will fire one shot, then fix bayonets and charge.
My final idea isn't really one that CoD can do, because the campaign options are rather limited, and the political baggage weighs about three metric tons: the Six Day War. It offers a new conflict, a new set of weapons (1960s era + uzis), and a campaign that literally spans the entire war. Plus, there's a chance for a really emotional battle in Jerusalem. Maybe some Israeli developer could do it?