Hu's on First?

I found this funny, well-written joke on the internet the other day:

Bush: Condi, what's the name of the LEADER of CHINA?
Condi: Hu.
Bush: You know, the CHINESE LEADER.
Condi: HU's the Chinese leader.
Bush: That's what I want to know.
Condi: WHAT, sir?
Bush: WHO's that guy that runs CHINA?!
Condi: That's right. HU's the guy that runs CHINA.
Bush: THAT'S WHAT I'm ASKING YOU! Oh, forget it! Instead, tell me about the NORTH KOREAN LEADER.
Condi: IL?
Bush: He is? Probably the flu. It's going around, you know.

This joke reminds me of Abbot and Costello's famous "Who's on First?" bit, which is really funny because of its wordplay and ambiguity. This joke cleverly uses the homonyms of "who" and "Hu" and "Il" and "Ill." It also helps that the words needed to understand the joke are in caps lock. I don't think the joke would be quite as funny if you didn't know which words to look at. Also, since online communication is two-dimensional, it tells us what words to put an emphasis on to make it sound like a real conversation.