Fun and gently ironic!
Addendum: More ironic than I thought. According to the SongFacts website, “The title and chorus are based on a Chinese propaganda poster. The slogan “Shiny happy people holding hands” is used ironically – the song was released in 1991, two years after the Tiananmen Square uprising when the Chinese government clamped down on student demonstrators, killing hundreds of them. (thanks, Ali – Oxford, England)”
mirabile dictu 