React is a JavaScript library for building user interfaces. It is not a full framework and only handles the view layer. React uses a component-based approach where UI is broken into independent, reusable pieces. Components render HTML and have their own internal state. This makes components predictable and easier to debug. However, React alone is not enough to build full applications and must be used with other libraries for functionality like data fetching and routing. While React takes more time to learn initially, it can improve development speed and code quality for larger teams through its patterns and emphasis on component design.