Answer:
THE GLOBAL VILLAGE.
Step-by-step explanation:
Global village can be defined as a phenomenon where the world becomes more interconnected as the result of the propagation of media.
Global village has been created through modern information and communication technologies, in which people can communicate with others across the world as if they were living next door.
The global village "shrinks" meaning "withdraws" time and space and replaces it with air travel and electronic media which in turn makes it easier for people around the globe to communicate with each other.
Therefore, the shrinking of time and space with air travel and the electronic media is THE GLOBAL VILLAGE.