City have spent more than £200million in the last couple of years on new players.
Kalou said: “Just because you bring in 10 new players every year doesn’t mean you are going to finish top of the table.
“City did the same thing last season and finished fifth and I am not sure if they’ll be any stronger this time.
“Spending a lot of money on new signings doesn’t guarantee anything. City have to remember there are still teams like Chelsea, United, Liverpool and Arsenal who will always be at the top.
“And this year we will all be up there fighting for the title again.”
He added: “We’ve just won the Premier League and FA Cup and this year will also be going for the Champions League.
“We have a squad that knows how to win and Chelsea are still the side for everyone else to beat.
“We are the champions so everyone will come hard to try to beat us.
“But we are ready and back for the challenge.”