I wish I could explain this to you mo' betta, but my 30 minutes worth of research is just causing my brain to fry. OK. I THINK this is a clip from a 1972 movie called "Krai Thaong Krauper Charavan" from the "Golden Age" of Cambodian (Khmer) filmmaking. I THINK the subtitles are in both Chinese and English, AND IT MAY BE that this version is being sung in the Khmer language...

Jup Krauper Charavan #1

...and I THINK this nearly-identical one was dubbed for the Chinese market.

Jup Krauper Charavan #2

In any case, the English translation of the lyrics includes gems like, "The Great God exists with me/Lovely Girl exists with me," and "You monster, you are a clever liar/I'm the clever snake catcher from India," and "Me, eat glass and bowls/I'm alert, like a mouse." The dancing and acting is sublime and very silly, very reminiscent of Bollywood. 

Justin Timberlake, TAKE NOTICE!