I believe the Context API could be more useful (in certain situations at least), because you are not limited to only one context.
You can create multiple contexts and use them at their places. For example, I can imagine a context related to the user/login state and another context related to application specifics and whatnot.
I don't have much experience with redux, but to me, it feels like it is an excuse for global variables. I'm not so fond of keeping everything in one place. Adds unnecessary complexity. :)
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