One thing to note is that a large bulk of Hong Kongs population is made up of people fleeing Chinas cultural revolution in the 50’s and 60’s. Hong Kong prospered because it was not China for a long period, so all the earlier comparisons to the Falkands etc. are pretty idiotic. The UK has a legal duty to protect the rights of the “two countries, one system” principle until 2047 not because of some colonial b@llshit, but because of a duty to the people of HK.
It’s my understanding that after an initial period of being “united with the motherland” the relationship between China and HK has become colonial (probably due to Xi and Chinas enlarged economy), but worse than the previous relationship due to Chinas awful human rights record and lack of freedom. From what I’ve seen the 2014 protests were probably due to lack of opportunity for young people, but these protests are more to do with extreme desperation of the destruction of the one country two systems principle (and more violent because the peaceful protests of 2014 and earlier this year were completely ignored).
It’s probably not going to end well, island building in the South China Sea, extra bridges being built from HK to the mainland and massing of troops on the border all seem to point at using force to move HK closer to China. The easy solution would be to grant limited local democracy to HK in order to determine domestic policy (like in Scotland), however China is too scared of setting a precedent for the rest of the country.