As for godzilla, he was just some dumb dinosaur that the japanese came up claiming he was an after effect from the dropping of a hydrogen bomb in the mid 1950's (they weren't having a go at the americans though - honest!!). Some have pointed out the parallels, conscious or unconscious, between Godzilla's relationship to Japan and that of the United States; first a terrible enemy who causes enormous destruction, but then becoming a good friend and defender in times of peril.
Interesting, I never knew of the political allegory behind Godzilla.
I think the Teletubbies can be interpreted allegoricaly too.
The following is the

's take on the show,
Tinky Winky is the American, the chubbiest of the teletubbies, aspirations of leadership. Throws his weight about a bit too much. The triangle on his head is an arrowhead, a symbol of war/aggression. They've pointed it downwards towards Tinky Winky to show the creator of the show's belief that they will ultimately bring about their own demise.
La La is us Brits. Annoying little voice, always trying to be heard over her louder friends by being especially squeaky. The twisty thing on her noggin is a tribute to our ingenuity and inventiveness.
To fly the flag for India we have Dipsy, not just because he's half cast, but also because of the straight protruding spike. This makes his head look a bit like the Taj Mahal.
Po is the Japanese, coz it's small and you're nae too sure of it's gender. The red circle on it's head is a clear homage to the Japanese flag.
Nu Nu represents the Russians, functionality, simplicity and conformity. Eternally shat on by the other four.
The whole show is a parody on international conferences and how the teletubbies always repeat everything is the writers subtle criticism of bureaucracy. Not much gets done when the nations of this world spend the whole day saying 'Eh-O' to each other whilst rolling around on the grass.
Before it's time for tubby-byebye let me ask this? Who would win in a fight between the teletubbies and the tweenies?