The pro-democracy protests in Hong Kong have propelled the small Chinese "Special Administrative Region" into the global spotlight, with many analysts marking them as a difficult political challenge to Beijing's Communist government.

Hong Kong was returned to China's control in 1997, after more than 150 years as a British colony. Under a guiding policy of "one country, two systems," Hong Kong was promised a high degree of control over its affairs, with an eventual move towards universal suffrage for its people.

But in late August, Beijing announced it would limit vote reforms ahead of the 2017 election, sparking a mass protest movement.

Here are four reasons why we can't ignore the protests:

End of an 'era of hope' for policy of 'One country, two systems'

David Mulroney, a former Canadian ambassador to China and a senior fellow at the Munk School of Global Affairs, said that the 1997 handover was made with broad international support – including Canada's – partly because of the belief that Hong Kong would subsequently develop its own institutions and maintain its autonomy.

"When Deng Xiaoping, the former Chinese leader agreed to this, part of his thinking is that Hong Kong would be an incubator for reform, that things could change in Hong Kong and maybe China could ultimately learn from that change," Mulroney told CTV's Canada AM on Monday.

But the hope that Hong Kong would be able to move towards fuller autonomy and eventual universal suffrage was dashed in late August, when China ruled out allowing open nominations for the 2017 election of Hong Kong's leader.

Instead, voters in Hong Kong will have to choose a leader from candidates that have been hand-picked by Beijing, Mulroney said.

"That really is unacceptable to the people of Hong Kong who have had their expectations rise over time," he said of the prospect their ballot choice will be limited to pro-Beijing candidates. "We're seeing those promises really vanish, and an end to that era of hope."

China's decision to limit voting reforms infuriated democracy supporters and prompted the protest group Occupy Central into action, with promises to cripple the central business district with demonstrations.

Student-led protests

While Occupy Central has been a strong voice in the protests, the demonstrations really gathered strength after students across the region launched a student strike last week.

Ray Rudowski, a former Hong Kong journalist and current regional director for crisis at Edelman Asia-Pacific based in Hong Kong, told CTV News Channel that his office is located close to one of the many protest sites.

After walking through the demonstrations, he got the sense that many of the young people who have taken to the streets believe this is an unprecedented opportunity to have their voices heard.

"This is a huge historic moment and opportunity for them to have a say in the future of Hong Kong and their Hong Kong," Rudowski said.

The protests were further galvanized after Hong Kong police used tear gas to break up crowds of protesters, sending shock waves through the community and angering other residents who suddenly saw images and videos of students being "effectively made (into) criminals," Rudowski said.

One of the main student leaders, 17-year-old Joshua Wong, was arrested over the weekend but later released.

Hong Kong-mainland divisions

Adding to the complexity of the protests is the increased migration of mainland Chinese residents to Hong Kong following the 1997 handover.

Relations between mainland Chinese migrants and Hong Kong-born residents have been thorny, with Hong Kongers having grown up in a society influenced by years of British colonial rule, Mulroney said.

"People from Hong Kong have made snarky comments about how uncouth and poorly behaved people from the mainland are, and that has generated a lot of resentment on the mainland," he said.

Mulroney also said that the influx of Chinese investment and money into Hong Kong has also put pressure on Hong Kong's media to not anger Chinese sensibilities.

"As major advertisers from the mainland put pressure on Hong Kong's newspapers and media outlets, lots of people in Hong Kong are worried about what's happening," he said.

Canadian response

Canada, which has a sizable Chinese population comprised of both migrants from mainland China and Hong Kong, has expressed support for the pro-democracy protests.

Adam Hodge, spokesperson for Foreign Affairs Minister John Baird, said Monday that Canada supports democratic development in Hong Kong under the "one country, two systems" policy.

Hodge said Ottawa is concerned about the situation and was following the situation closely.

Baird also expressed his support for the protesters on Twitter over the weekend.

"Aspirations of people of Hong Kong are clear. Canada supports continued freedom of speech and prosperity under the rule of law," Baird wrote.

Ottawa's response is in contrast to the Canadian Chamber of Commerce in Hong Kong, which along with other foreign chambers of commerce, issued a newspaper ad in June condemning Occupy Central's protest plans out of fear it could "cripple" business.

Notably, the U.S. and the U.K. chambers of commerce in Hong Kong did not sign the statement.

Mulroney said the Canadian chamber's stance, issued before the protests even started, was disappointing and short-sighted.

"Businesses should see that having a Hong Kong that develops in an orderly way is in business' interests too," he said.

With files from The Associated Press and The Canadian Press