Despite Tottenham finishing ahead of Arsenal last season for the first time in 22 years, Cech believes that a lack of trophies at their bitter rivals undermines any progress that Tottenham have made under Mauricio Pochettino.
'No I don't think so, ' Cech said when asked by Sky Sports whether there had been a changing of the guard in north London over the last few seasons. "Although the season was not always what we wanted, we always had a trophy at the end of it".
But Cech insists the title - and not just leapfrogging Tottenham - is still the Gunners' target.
Spurs finished above Arsenal last season and while Giggs sees Pochettino as possessing the best squad at the moment, he still believes that they have some way to go before coming the true dominant force in North London.
Arsenal forward Danny Welbeck is stepping up his recovery ahead of his side's crunch clash against Tottenham Hotspur on Saturday, the Daily Mail reports. Two years ago when we finished above them we were disappointed because we didn't win the title.
"I don't think there is a power shift", Cech said. His work at Southampton showed he is a very capable manager.
"They have young, talented players as well as experienced players".
Tottenham, meanwhile, have been in good form of late and are now third in the Premier League table heading into the crunch clash against the Gunners.
The Czech, 35, also claims Mesut Ozil and Alexis Sanchez are as focused as ever - despite their unsettled futures after so far declining to sign new contracts.
"They are an important part of the team", he added.
He added: "I still see Manchester United as the main title rivals for City this season, with Jose Mourinho's record being key, while he should have Paul Pogba and Zlatan Ibrahimovic to come back when you really need those big-game players to make an impact".
"They train well and we hope their form will help us reach the target".