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In a large saucepan on low heat, saute the onions and garlic with the vegetable oil for 10 to 15 min, until the onions are translucent but not browned. Add the tomato paste, vinegar, honey,Worcestershire sauce, mustard, soy sauce, hoisin sauce, chili powder, cumin and red pepper flakes. Simmer uncovered on low heat for 30 minutes. Use immediately or store in the refrigerator.
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