In large Dutch oven, heat oil over medium heat. Add ribs in batches, and brown. Transfer browned ribs to large bowl. Remove and discard all but 1 tablespoon cooking liquid. Add onion and cook 3 minutes. Add garlic and ginger, and cook 1 minute. Transfer ribs back to Dutch oven.
Heat oven to 375°F. Add broth, hoisin sauce, honey, vinegar, and red pepper to Dutch oven. Heat to boiling. Cover, then transfer to oven. Bake until tender, about 1-1/2 hours.
Transfer ribs to a roasting pan, and keep warm in oven set at low. Skim fat off cooking liquid, and transfer back to Dutch oven. Heat to boiling and cook 5 minutes. Add carrots and cook until mixture thickens, about 6 minutes longer.