Manchester City are currently two points clear of their rivals at the table summit, but the 38-year-old Giggs - who has partaken in each of Sir Alex Ferguson's 12 title successes to date - believes his team-mates have the hunger, desire and experience to overhaul their 'noisy neighbours'.
"I think in most people's eyes they're favourites because they're top of the league, and because of the quality they've got, and the football they played early season," the veteran told United's official website.
"You can't ignore the money and the quality they've got, and their strength in depth."
"They're obviously trying to lay the foundations for 10, 20, 30 years. Whether it happens or not we'll have to wait and see."
"It's just down to which team handles it (pressure) best."
While the Welshman is well aware that the City squad is packed full of quality internationals, including the likes of Sergio Aguero, David Silva and Yaya Toure, he believes that United's 'seen it and done it' experience will help United during the coming months.
"They've got a lot of experience, they've got players who've won things, but we like to think we've got a good mix of experience and hunger," Giggs said.
"I think the experience of doing it before with the manager (is key)."
"We've got older players who've been there, and younger players who haven't and really want to win things, so hopefully that's in our favour."
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