Bon Jovi plays Jamey Meadows, a man newly released from prison who is consequently homeless and living on the streets of New York City.
In the course of work he interviews Chun Hua (Bai Ling), an attractive young Chinese woman married to a much older businessman, and has a baby boy from an earlier liaison.
Meadows enjoys her companionship and starts an innocent relationship with her, getting paid to teach her colloquial (New York) English, in the course of which they sing together the nursery-rhyme of the title.
The gang breaks into the Chinese family residence, find nothing of value, so kidnap the baby for the ransom, not realizing he is precious only to Chun Hua, who is penniless.
Meadows abducts the baby and is pursued by the gang, but loses them, stealing a rowboat to cross the Hudson to where Chun Hua is waiting.