It seems very clear that Mystery Babylon the Great
is in existence in the first century AD.

Revelation discuses threats to the Christianity that are immediate and powerful. It is “revealing” “things which must happen soon,” Rev 1:1. The first half of the book seems to describe world history from the outside, what it looks like to average man as he sees conflicts and judgements on the earth. Then in the second half of Revelation it emphasizes the behind the scenes players, including Mystery Babylon. It seems to imply she was already in existence in the first century AD.

One key is that it is a “mystery,” which was
a technical term for a type religion.

A “mystery” in the first century sense was a secret or semi-secret religion whose teachings were kept secret. They were very active politically, and often ran afoul of the governing authorities. There are many good studies of these religions, including Samuel Angus pro-mystery religion study called The Mystery Religions and Christianity. They are discussed in some detail in “Some Age Long Mysteries,” in Prophecy Principles.

It is NOT government, but instead it rules
OVER many governments, Rev 17:18.

It is centered in a city. Many think Mystery Babylon is the Roman Empire, but the caesars and the Roman Empire only fit Revelation to a point. They are merely types. My second book Revealing the Christian Age offers solid evidences that something beyond the caesars and the Roman Empire was intended from the first.

Mystery Babylon is a powerful commercial entity.

The comparison in the first part of Revelation 18 seems to be to the commercial cities of Tyre and Sidon, and it uses language similar that describing these cities in the Old Testament. Roman itself was primarily a political entity, NOT a commercial entity, although often influencing commerce. Compare Rev 18:10-13.

Mystery Babylon was something you could
“come out of.”

A religion, or a commercial entity you can come out of. But how would someone in the Mediterranean world of the first century come out of the Roman Empire? It is given as a command which can be understood and obeyed.

“I heard another voice from heaven, saying, “Come out of her, my people, that you have no participation in her sins, and that you don’t receive of her plagues,””
Rev 18:4 WEB

Further, instead of describing government as something intrinsically opposed the God and righteousness, Scripture says that ALL government is ordained of God, Rom 13:1-3, and describes them as “a servant of God to you for good,” Rom 13:4. Lastly,

Mystery Babylon is destroyed at God’s command
very near the end of world history.

Mystery Babylon is destroyed by one called “the beast” and ten kings, at God’s command, Rev 17:16-17. But the beast himself only comes very near the end of world history, and at the second coming of Christ is thrown alive into hell, Rev 19:20.

This clearly implies that Mystery Babylon has existed throughout the Christian age, and every generation of Christians have had to deal with her.

I think it is proper to describe Mystery Babylon as a religio-economic power.

WEB is the World English Bible, a copyright free revision
of the original ASV American Standard Version 1901