You can use a React Context and have simple global state in your React app. If you like reducers, throw in a useReducer hook and you have a large part of what people use Redux for.
I've done that recently, and I had many performance issues. I have a long-ish list of very simple components that are in a sorted order. So when I change the value of one, I re-sort the list. I was hoping React would only rerender the changed items (remove old, insert new). But no, it rerenders the whole list, which takes 500ms. I made sure object references in the list stay the same, that didn't help.
I can implement this thing in vanilla JS, and it would not take more than a few milliseconds. React is cool, but so damn hard to optimize.
It's important to distinguish between React "rendering" (asking components what they want the UI to look like), and actually applying updates to the DOM.
React's default behavior is that when a component renders, React will recursively re-render _all_ of its descendants. it then diffs the VDOM render output to see if you've asked for any changes to the UI since the last time it updated. If the two VDOM trees are the same, React says "nope, nothing to do here!", and ends the render pass. _If_ you requested changes, it then gathers them up and applies them all to the DOM in one step.
You can optimize the rendering behavior in some ways if needed. The `React.memo()`, `PureComponent`, and `shouldComponentUpdate` APIs [0] allow you to tell React to skip re-rendering if you know that a component's props haven't meaningfully changed, and thus would result in the same UI output as the last time. This does require that the child components be separate component types (ie, `<MyComponent />`), not just the parent rendering a bunch of plain elements (like `<div>`).
For lists in particular, React needs to know how to identify which items are which. React doesn't care about object references, but you can pass a special prop called a `key` when rendering items in a list. That way, if you move a list item up, swap a couple others, delete one, and add a couple more, React knows what existing list items ended up where, and can update the DOM efficiently in response. Otherwise, changes to lists without good use of keys can result in more DOM work being done than actually necessary.