In a bowl, stir together water, ketchup, soy sauce, cornstarch, honey, crushed red pepper, and ground ginger. Set aside.
Heat oil in a large skillet over medium high heat. Stir in red pepper, grated carrot, green onions and garlic. Sauté for 1-2 minutes.
Stir in shrimp and toss to coat with oil. Sauté shrimp until cooked (about 3 minutes).
Add the sauce to the same skillet. Cook and stir sauce is bubbly and thickened. Serve immediately over rice.
Do not be fooled by the simplicity of these ingredients. The flavor of the sauce is amazing, and this is a quick and easy recipe for the whole family to enjoy!