I've recently found this gorgeous art by Çağlayan Kaya Göksoy - he imagined Kratos in Chinese mythology.
And what setting do you think is perfect for new God of War titles? If I could place Kratos anywhere I want, I'd send him to the ancient India. Just think about Hindu gods: all these elephants with multiple hands, huge figures with blissful smiles on their faces, beutiful landscapes and fights in the jungle - so many possibilities to make something great! Or ancient Egypt - those gods with animal heads always scary me.