Final answer:
Time-space compression is reliant on modern telecommunications and transportation technologies, infrastructure, and the socio-political framework that governs its access and cost. This has facilitated the global spread of information and services but also highlights the digital divide in areas lacking access to such technologies.
Step-by-step explanation:
Time-space compression relies on advanced telecommunications and transportation technologies which is contingent on the existence of infrastructure and its maintenance, the cost of use, and political restrictions on access. This concept has become increasingly relevant due to the way telecommunications have revolutionized the management of long-distance economic connections in terms of production and sales. Products and services like computer software, financial advice, and blueprints among others, can now be easily transported over telephones and computer networks at lower costs. Globalization of trade is further facilitated by international agreements and treaties between countries.
However, the global spread of these technologies is not uniform, resulting in areas known as 'digital deserts’ where access to high-speed internet is scarce, illustrating the digital divide that affects the inclusivity of this technological revolution. Rural areas and low-income communities often bear the brunt of these shortcomings. Maintaining and expanding the necessary infrastructure, mitigating costs, and navigating political landscapes are all challenges that influence time-space compression and its efficacy in connecting the world.