The ‘happy fish’ dialogue is one of the best-known and heatedly debated passages of the Zhuangzi. Scholars have constructed different interpretations of the dialogue. Some argue that this dialogue expresses the idea of living at ease and enjoying life as it is; some refer to the idea of anti-anthropocentrism, while others reconstruct the dialogue as certain epistemological debates. This paper examines the connotations of ‘fish’, ‘water’, and ‘river’ in early Chinese political discourses and reads the political connotations in the dialogue between Zhuangzi and Huizi. This can lead to an alternative interpretation, which is that, at its core, this passage is a dialogue between these two men on politics and their political careers.