Mr. Chang, a Chinese immigrant and father of two daughters, takes over a pancake house in the American suburbs, hoping the business will eventually pay for his children’s college tuition. The pancake house does succeed, and the Chang family gets rich “almost immediately.” As a result of their newfound wealth, Mr. Chang and his wife Mrs. Chang undergo some lifestyle changes. He buys a reclining chair, and she stops working at the supermarket, instead becoming a housewife and developing an interest in “wallpaper, and espadrilles.” Eventually, Mrs. Chang starts talking to her daughters Callie and Mona about joining the local country club. Mona encourages the idea, believing that her friend’s mom will write the Changs the necessary recommendation letter. However, Mrs. Chang lets the idea go, claiming that Mr. Chang would be displeased and prioritizing her loyalty to him.
Having achieved some success, Mr. Chang starts emulating the practices of his wealthy grandfather, who was known in China for his generosity to the villagers. Mr. Chang starts giving out extra paychecks to his employees, but he expects their loyalty in return. When they start to quit, tired of the personal chores he asks them to do, the restaurant takes a downturn. Mr. Chang has difficulty hiring a new busboy, but he eventually employs Booker and Cedric, two undocumented Taiwanese workers in whom he sees his younger self. They are good workers, but their presence causes a stir in the kitchen. The head cook, Fernando, insists Cedric is a thief. When Fernando himself is found stealing meat, he blames Cedric for ratting him out and punches him. Mr. Chang fires Fernando, while Cedric stays on.
Meanwhile, Mona has let it slip to her friend Annie that the Changs want to join the country club. Annie’s mom, Mrs. Lardner, visits Mrs. Chang and volunteers to write the reference letter, though some of her friendliness has a racist undertone, like calling the Changs “you people.” Mrs. Chang is upset at the way the situation unfolds and gets angry at Mona, while Callie reveals that the country club has a racist history. Soon after, Mr. Chang comes home from work with the news that the immigration police have found and arrested Booker and Cedric (thanks to a police call from bitter Fernando). He bails them out and commits to finding them legal help, much to Mrs. Chang’s chagrin. When they run away, leaving only a letter to Mr. Chang apologizing for not paying him back the bail money, Mr. Chang feels let down. The Changs are then rejected from the country club.
Mrs. Lardner then invites the Changs to a party for her friend Jeremy Brothers, where they will meet other country club members. Although Mr. Chang hates wearing a suit jacket, he buys one for the party. The family arrives and has some trouble mingling with the other guests. Drunk, Jeremy Brothers approaches Mr. Chang and starts harassing him, saying he doesn’t know who he is, and finally yelling, “WHO ARE YOU?!” Mrs. Lardner tries to fix the situation, but Jeremy continues to be insulting. He tells Mr. Chang he is overdressed and pulls off his suit jacket to read the label, making fun of the price tag that’s still on. Mr. Chang, incensed, throws his suit jacket into the pool, and the family leaves Jeremy’s party. Callie and Mona are proud of their father for standing up for himself. When Mr. Chang admits that his car and house keys are still in his suit pocket in the pool, the family decides to wait out the rest of the party at the pancake house.