In a small saucepan, whisk together the soy sauce, peanut butter, honey, and rice vinegar until smooth.
Stir in the sesame oil, garlic powder, and red pepper flakes.
Dissolve the cornstarch in the water, then add it to the sauce. Mix well to ensure there are no lumps.
Heat the mixture over medium heat, stirring constantly, until the sauce thickens (about 2-3 minutes).
Let cool, then serve with grilled meats, vegetables, or Asian dishes.
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