Canada’s situation is nothing like Japan’s.

Canada’s economy has tripled in size since 1995. Japan’s economy is smaller than it was in 1995.

Canada's signed two Faustian bargains - one with the resource extraction economy, and one with the real estate sector.

Neither one is long-term sustainable. Eventually, the oil will be dug out of the ground, and eventually, it won't be able to endlessly generate paper value by trading rat-infested outhouses in Vancouver back-and-forth for 5 million/pop.

It has other exports[1], but they aren't the engine of Canadian economic growth.

[1] (Insert lame joke about how its biggest export is SWEs to the United States.)