Grate the ginger and finely chop the garlic and fresh chili. Remove the seeds from the chili if you prefer a milder flavor.
In a medium saucepan, heat the olive oil over medium heat. Sauté the ginger, garlic, and chili until fragrant.
Add the rice vinegar, soy sauce, lime juice, honey, and water. Stir well to combine.
In a small bowl, whisk the cornstarch with a little cold water to form a slurry. Slowly add the slurry to the hot sauce, stirring constantly to prevent lumps from forming.
Simmer the sauce over low heat for 5-7 minutes, or until it thickens to your desired consistency.
Let the sauce cool slightly, then transfer it to a sterilized jar. Store in the refrigerator and use with spring rolls, roasted meats, or grilled vegetables.
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