Political Satire
I Not Stupid criticises many aspects of modern Singaporean culture, including streaming in the education system, deference to authority, and sociocultural stereotypes. The film can be read as an allegory for Singaporean society — the pampered protagonist and narrator, Terry, is an "everyman;" deferent and coddled, with a domineering mother and affluent father. Terry's intellectual failings lead him to be placed in the inferior EM3 stream, which becomes the driving force behind the storyline.
The subsequent stigma placed upon the narrator illustrates how the Singaporean education system promotes academic elitism, with students in lower streams looked down upon as inferior, making it harder for them to catch up and realise their potential (see Pygmalion effect), even if they are not necessarily stupid. This kiasu mentality puts mounting pressure upon the protagonists of the film, confounding them as they attempt to improve their standing and ameliorate their reputation in a society which judges them "worthless".
Terry's mother, Mrs. Khoo, is a "thinly veiled stand-in for the government", whose "mother-knows-best" mentality is well-meaning, but strips her children of their freedom. She demands total obedience, and her repeated lines "Do you know how lucky you are to have a good and responsible mother?" and "This is all for your own good" parody the Singapore government's efforts to convince Singaporeans that government policies and actions is in the best interests of the nation. Mrs. Khoo also uses her position of power to buy off rebellion in her charges with gifts and bribes, in a pointed criticism of the government's social policies. Other characters in the film comment on this relationship — for instance, in one scene, Mr. Liu states that "it is difficult to catch fish in Singapore, because fish in Singapore are like Singaporeans; they'll never open their mouths", poking fun at the Singaporean trait of obedience and respect for authority.
The film also touches on other issues including Chinese self-loathing (wherein Singaporean companies regard Western expatriates as inherently superior to local workers), suicide, the use of Singlish, and the differences between English and Chinese.
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