UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549  FORM N-CSR  Investment Company Act file number
        811-4670
  DWS Global/International Fund, Inc. (Exact Name of Registrant as Specified in Charter)  345 Park Avenue New York, NY  10154 (Address of principal executive offices)             (Zip code)  Registrants Telephone Number, including Area Code:(212) 454-7190  Paul Schubert 345 Park Avenue New York, NY 10154 (Name and Address of Agent for Service)  Date of fiscal year end:
        10/31
  Date of reporting period:
        10/31/07
   ITEM 1.REPORT TO STOCKHOLDERS


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OCTOBER 31, 2007

# Annual Report
to Shareholders

DWS Emerging Markets
Fixed Income Fund

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Contents

click herePerformance Summary

click hereInformation About Your Fund's Expenses

click herePortfolio Management Review

click herePortfolio Summary

click hereInvestment Portfolio

click hereFinancial Statements

click hereFinancial Highlights

click hereNotes to Financial Statements

click hereReport of Independent Registered Public Accounting Firm

click hereTax Information

click hereInvestment Management Agreement Approval

click hereSummary of Management Fee Evaluation by Independent
Fee Consultant

click hereDirectors and Officers

click hereAccount Management Resources

This report must be preceded or accompanied by a prospectus. To obtain a
prospectus for any of our funds, refer to the Account Management Resources
information provided in the back of this booklet. We advise you to consider the
fund's objectives, risks, charges and expenses carefully before investing. The
prospectus contains this and other important information about the fund. Please
read the prospectus carefully before you invest.

Investments in mutual funds involve risk. Some funds have more risk than others. The
fund invests in individual bonds whose yields and market values fluctuate so that your
investment may be worth more or less than its original cost. The fund may invest in
lower-quality and nonrated securities which present greater risk of loss of principal and
interest than higher-quality securities. Investing in securities of emerging markets
presents certain unique risks not associated with domestic investments, such as
currency fluctuation, political and economic changes and market risks. Foreign security
markets generally exhibit greater price volatility and are less liquid than the US market.
Additionally, this fund is nondiversified and can take larger positions in fewer issuers,
increasing its overall potential risk. All of these factors may result in greater share price
volatility. Bond investments are subject to interest rate risk such that when interest
rates rise, the prices of the bonds, and thus the value of the bond fund, can decline and
the investor can lose principal value. Please read this fund's prospectus for specific
details regarding its investments and risk profile.

DWS Scudder is part of Deutsche Asset Management, which is the marketing name in
the US for the asset management activities of Deutsche Bank AG, Deutsche Bank Trust
Company Americas, Deutsche Investment Management Americas Inc. and DWS Trust
Company.

NOT FDIC/NCUA INSURED NO BANK GUARANTEE MAY LOSE VALUE
NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Performance SummaryOctober 31, 2007

Classes A, B and C

All performance shown is historical, assumes reinvestment of dividend and
capital gain distributions, and does not guarantee future results. Investment
return and principal value fluctuate with changing market conditions so that,
when redeemed, shares may be worth more or less than their original cost.
Current performance may be lower or higher than the performance quoted.
Please visit www.dws-scudder.com for the Fund's most recent month-end
performance.

The maximum sales charge for Class A shares is 4.5%. For Class B shares, the
maximum contingent deferred sales charge (CDSC) is 4% within the first year
after purchase, declining to 0% after six years. Class C shares have no adjustment
for front-end sales charges but redemptions within one year of purchase may be
subject to a CDSC of 1%. Unadjusted returns do not reflect sales charges and
would have been lower if they had.

The total annual fund operating expense ratios, gross of any fee waivers or
expense reimbursements, as stated in the fee table of the prospectus dated
March 1, 2007 are 1.37%, 2.45% and 2.14% for Class A, Class B and Class C shares,
respectively. Please see the Information About Your Fund's Expenses, the
Financial Highlights and Notes to the Financial Statements (Note C, Related
Parties) sections of this report for gross and net expense related disclosure for
the period ended October 31, 2007.

To discourage short-term trading, the Fund imposes a 2% redemption fee on
shareholders redeeming shares held less than 15 days, which has the effect of
lowering total return.

Returns and rankings for all periods shown for Class B shares and for the 3-year, 5-year
and 10-year periods shown for Class A and Class C shares reflect a fee waiver and/or
expense reimbursement. Without this waiver/reimbursement, returns and rankings
would have been lower.

Performance figures do not reflect the deduction of taxes that a shareholder would pay
on fund distributions or the redemption of fund shares. Returns and rankings may differ
by share class.

Returns shown for Class A, B and C shares for the periods prior to their inception on
June 18, 2001 are derived from the historical performance of Class S shares of DWS
Emerging Markets Fixed Income Fund during such periods and have been adjusted to
reflect the higher gross total annual operating expenses of each specific class. Any
difference in expenses will affect performance.

|Average Annual Total Returns(Unadjusted for Sales Charge) as of 10/31/07
|------------------------------------------------------------------------
|DWS Emerging Markets Fixed Income Fund                                  
|Class A                                                                 
|Class B                                                                 
|Class C                                                                 
|JP Morgan Emerging Markets Bond Index Plus+                             

Sources: Lipper Inc. and Deutsche Investment Management Americas Inc.

|Net Asset Value and Distribution Information                           
|-----------------------------------------------------------------------
|                                                                       
|Net Asset Value:
10/31/07                                              
|10/31/06                                                               
|Distribution Information:
Twelve Months as of 10/31/07:Income Dividends
|Latest Quarterly Income Dividend                                       
|SEC 30-day Yield as of 10/31/07++                                      
|Current Annualized Distribution Rate as of
10/31/07++                  

|Class A Lipper Rankings  Emerging Markets Debt Funds Categoryas of 10/31/07
|----------------------------------------------------------------------------
|Period                                                                      
|1-Year                                                                      
|3-Year                                                                      
|5-Year                                                                      

Source: Lipper Inc. Rankings are historical and do not guarantee future results.
Rankings are based on total return unadjusted for sales charges with distributions
reinvested. If sales charges had been included, rankings might have been less
favorable. Rankings are for Class A shares; other share classes may vary.

|Growth of an Assumed $10,000 Investment(Adjusted for Maximum Sales Charge)                      
|------------------------------------------------------------------------------------------------
|[]DWS Emerging Markets Fixed Income Fund  Class A
[]JP Morgan Emerging Markets Bond Index Plus+
|emfi_g10k2a0                                                                                    
|Yearly periods ended October 31                                                                 

The Fund's growth of an assumed $10,000 investment is adjusted for the maximum
sales charge of 4.50%. This results in a net initial investment of $9,550.

|Comparative Results(Adjusted for Maximum Sales Charge) as of 10/31/07
|---------------------------------------------------------------------
|DWS Emerging Markets Fixed Income Fund                               
|Class A                                                              
|Average annual total return                                          
|Class B                                                              
|Average annual total return                                          
|Class C                                                              
|Average annual total return                                          
|JP Morgan Emerging
Markets Bond Index
Plus+                          
|Average annual total return                                          

The growth of $10,000 is cumulative.

Class S

Class S shares are generally not available to new investors except under certain
circumstances. (Please refer to the Fund's Statement of Additional Information.)

All performance shown is historical, assumes reinvestment of all dividend and
capital gain distributions, and does not guarantee future results. Investment
return and principal value fluctuate with changing market conditions so that,
when redeemed, shares may be worth more or less than their original cost.
Current performance may be lower or higher than the performance quoted.
Please visit www.dws-scudder.com for the Fund's most recent month-end
performance.

The total annual fund operating expense ratio, gross of any fee waivers or
expense reimbursements, as stated in the fee table of the prospectus dated
March 1, 2007 is 1.14% for Class S shares. Please see the Information About Your
Fund's Expenses, the Financial Highlights and Notes to the Financial Statements
(Note C, Related Parties) sections of this report for gross and net expense related
disclosure for the period ended October 31, 2007.

To discourage short-term trading, the Fund imposes a 2% redemption fee on
shareholders redeeming shares held less than 15 days, which has the effect of
lowering total return.

Returns and rankings for all periods shown reflect a fee waiver and/or expense
reimbursement. Without this waiver/reimbursement, returns and rankings would have
been lower.

Performance figures do not reflect the deduction of taxes that a shareholder would pay
on fund distributions or the redemption of fund shares. Returns and rankings may differ
by share class.

|Average Annual Total Returnsas of 10/31/07 
|-------------------------------------------
|DWS Emerging Markets Fixed Income Fund     
|Class S                                    
|JP Morgan Emerging Markets Bond Index Plus+

Sources: Lipper Inc. and Deutsche Investment Management Americas Inc.

|Net Asset Value and Distribution Information                           
|-----------------------------------------------------------------------
|                                                                       
|Net Asset Value:
10/31/07                                              
|10/31/06                                                               
|Distribution Information:
Twelve Months as of 10/31/07:Income Dividends
|Latest Quarterly Income Dividend                                       
|SEC 30-day Yield as of 10/31/07++                                      
|Current Annualized Distribution Rate as of 10/31/07++                  

|Class S Lipper Rankings  Emerging Markets Debt Funds Categoryas of 10/31/07
|----------------------------------------------------------------------------
|Period                                                                      
|1-Year                                                                      
|3-Year                                                                      
|5-Year                                                                      
|10-Year                                                                     

Source: Lipper Inc. Rankings are historical and do not guarantee future results.
Rankings are based on total return with distributions reinvested. Rankings are for
Class S shares; other share classes may vary.

|Growth of an Assumed $10,000 Investment                                                         
|------------------------------------------------------------------------------------------------
|[]DWS Emerging Markets Fixed Income Fund  Class S
[]JP Morgan Emerging Markets Bond Index Plus+
|emfi_g10k290                                                                                    
|Yearly periods ended October 31                                                                 

|Comparative Resultsas of 10/31/07          
|-------------------------------------------
|DWS Emerging Markets Fixed Income Fund     
|Class S                                    
|Average annual total return                
|JP Morgan Emerging
Markets Bond Index
Plus+
|Average annual total return                

The growth of $10,000 is cumulative.

Information About Your Fund's Expenses

As an investor of the Fund, you incur two types of costs: ongoing
expenses and transaction costs. Ongoing expenses include management
fees, distribution and service (12b-1) fees and other Fund expenses.
Examples of transaction costs include sales charges (loads), redemption
fees and account maintenance fees, which are not shown in this section.
The following tables are intended to help you understand your ongoing
expenses (in dollars) of investing in the Fund and to help you compare
these expenses with the ongoing expenses of investing in other mutual
funds. In the most recent six-month period, the Fund limited these
expenses for Class B and S shares; had it not done so, expenses would
have been higher. The example in the table is based on an investment of
$1,000 invested at the beginning of the six-month period and held for the
entire period(May 1, 2007 to October 31, 2007).

The tables illustrate your Fund's expenses in two ways:

Actual Fund Return. This helps you estimate the actual dollar amount
of ongoing expenses (but not transaction costs) paid on a $1,000
investment in the Fund using the Fund's actual return during the
period. To estimate the expenses you paid over the period, simply
divide your account value by $1,000 (for example, an $8,600 account
value divided by $1,000 = 8.6), then multiply the result by the number
in the "Expenses Paid per $1,000" line under the share class you hold.

Hypothetical 5% Fund Return. This helps you to compare your Fund's
ongoing expenses (but not transaction costs) with those of other
mutual funds using the Fund's actual expense ratio and a hypothetical
rate of return of 5% per year before expenses. Examples using a 5%
hypothetical fund return may be found in the shareholder reports of
other mutual funds. The hypothetical account values and expenses
may not be used to estimate the actual ending account balance or
expenses you paid for the period.

Please note that the expenses shown in these tables are meant to
highlight your ongoing expenses only and do not reflect any transaction
costs. The "Expenses Paid per $1,000" line of the tables is useful in
comparing ongoing expenses only and will not help you determine the
relative total expense of owning different funds. An account maintenance
fee of $6.25 per quarter for Class S shares may apply for certain accounts
whose balances do not meet the applicable minimum initial investment.
This fee is not included in these tables. If it was, the estimate of
expenses paid for Class S shares during the period would be higher, and
account value during the period would be lower, by this amount.

|Expenses and Value of a $1,000 Investmentfor the six months ended October 31, 2007
|----------------------------------------------------------------------------------
|Actual Fund Return                                                                
|Beginning Account Value 5/1/07                                                    
|Ending Account Value 10/31/07                                                     
|Expenses Paid per $1,000*                                                         
|Hypothetical 5% Fund Return                                                       
|Beginning Account Value 5/1/07                                                    
|Ending Account Value 10/31/07                                                     
|Expenses Paid per $1,000*                                                         

|Annualized Expense Ratios              | Class A | Class B | Class C | Class S
|-------------------------------------- | ------- | ------- | ------- | -------
|DWS Emerging Markets Fixed Income Fund | 1.34%   | 2.20%   | 2.16%   | 1.17%  

For more information, please refer to the Fund's prospectus.

Portfolio Management Review

DWS Emerging Markets Fixed Income Fund:
A Team Approach to Investing

Deutsche Investment Management Americas Inc. ("DIMA" or the
"Advisor"), which is part of Deutsche Asset Management, is the
investment advisor for DWS Emerging Markets Fixed Income Fund. DIMA
and its predecessors have more than 80 years of experience managing
mutual funds and DIMA provides a full range of investment advisory
services to institutional and retail clients.

Deutsche Asset Management is a global asset management organization
that offers a wide range of investing expertise and resources. This
well-resourced global investment platform brings together a wide variety
of experience and investment insight across industries, regions, asset
classes and investing styles.

DIMA is an indirect, wholly owned subsidiary of Deutsche Bank AG.
Deutsche Bank AG is a major global banking institution that is engaged in
a wide range of financial services, including investment management,
mutual funds, retail, private and commercial banking, investment banking
and insurance.

Pursuant to an investment subadvisory agreement between the Advisor
and Aberdeen Asset Management Investment Services Limited
("AAMISL"), a US registered investment advisor, AAMISL acts as
subadvisor. As the subadvisor, AAMISL, under the supervision of the
Board and the Advisor, makes investment decisions, buys and sells
securities and conducts the research that leads to these purchase and
sale decisions. AAMISL provides a full range of international investment
advisory services to institutional and retail clients. The subadvisor will be
paid for its services by DIMA from its fee as investment advisor.

AAMISL is a direct, wholly owned subsidiary of Aberdeen Asset
Management PLC, the parent company of an asset management group
formed in 1983. AAMISL is located at One Bow Churchyard, London
EC4M 9HH, United Kingdom.

Portfolio Management Team

Brett Diment

Head of Emerging Markets and Co-Manager of the fund.

Joined Aberdeen Asset Management in 2005 and the fund in 2002.

Formerly, Managing Director of Deutsche Asset Management; joined Deutsche Asset
Management in 1991. Head of Emerging Markets.

BSc from London School of Economics.

Edwin Gutierrez

Portfolio Manager, Emerging Markets and Co-Manager of the fund.

Joined Aberdeen Asset Management in 2005 and the fund in 2002.

Formerly, Director of Deutsche Asset Management; joined Deutsche Asset
Management in 2000 after five years of experience, including emerging debt portfolio
manager at INVESCO Asset Management responsible for Latin America and Asia and
economist responsible for Latin America at LGT Asset Management.

MsC from Georgetown University.

Nima Tayebi

Portfolio Manager, Emerging Markets and Co-Manager of the fund.

Joined Aberdeen Asset Management in 2005 and the fund in 2003.

Formerly, Director of Deutsche Asset Management; joined Deutsche Asset
Management in 2001 as an emerging currency fund manager.

Spent the previous eight years as an executive director responsible for emerging
markets trading at Millennium Global Investments, and previously Vice President at
Salomon Brothers, focusing on emerging currency and debt trading, and also Head of
Fixed Income research at Renaissance Capital.

BA from Cambridge University, M.Phil from Cambridge University.

In the following interview, Portfolio Manager Brett Diment discusses
the market environment and DWS Emerging Markets Fixed Income
Fund's strategy during the 12-month period ended October 31, 2007.

The views expressed in the following discussion reflect those of the portfolio manager only
through the end of the period of the report as stated on the cover. The management team's
views are subject to change at any time based on market and other conditions and should
not be construed as a recommendation. Past performance is no guarantee of future results.

Q: How did the emerging-markets bonds perform during the
past year?

A:Emerging fixed-income markets delivered a generally positive
performance during the period under review. The asset class
provided a total return of 8.56%, as measured by the fund's
benchmark, the JPMorgan Emerging Markets Bond Index Plus
(EMBI+).1 In comparison, the US bond market, as gauged by the
Lehman Brothers US Aggregate Index, gained 5.38%.2 The
performance of emerging-markets debt also was helped by the
rising value of foreign currencies relative to the US dollar.3

While emerging debt performed well for the majority of the
period, there were two notable periods of weakness. Both were
triggered by concerns about problems in the US subprime
mortgage market. The first bout of volatility occurred in late
February, leading to the reversal of "carry trades," through which
investors borrow in countries with low interest rates to invest in
higher-yielding countries such as those in the emerging markets.
Investors' risk appetites quickly recovered, however, as the
markets began to take a more measured view regarding the
ability of the US economy to weather the subprime storm.
Emerging-markets debt resumed its strong performance during
the second calendar quarter, but tumbled once again in
July/August when renewed subprime concerns spread to the
global money markets and fanned fears of a credit crunch. The
markets began to recover in early September, then gained
additional ground once the US Federal Reserve Board (the Fed)
lowered its benchmark fed funds rate by a larger-than-expected
half point. This move sparked a powerful rally in
emerging-markets bonds that carried through until the end of
October.

The shifting environment was reflected in the large movements in
the yield spread of the JPMorgan EMBI+ relative to
US Treasuries. The yield spread is the difference in yield between
emerging-markets bonds and Treasuries, the latter of which are
seen to be free of credit risk. Narrow spreads are a sign of
positive performance, wider spreads indicate negative
performance. The yield spread, which began the period at
194 basis points, or 1.94 percentage points, fell as low as
149 basis points on June 1, 2007.4 The market turmoil of July
and August caused the spread to soar to 251 basis points by
August 16, but as the market recovered the spread ultimately
declined to 186 as of October 31, 2007.

Q: How did the fund perform during this time?

A:The total return of the fund's Class A shares for the 12 months
ended October 31, 2007, was 9.92%. (Returns are unadjusted for
sales charges. If sales charges had been included, returns would
have been lower. Past performance is no guarantee of future
results. Please see pages 5 through 10 for the performance of
other share classes and for more complete performance
information.)

The fund's return compares favorably with the 8.56% gain of its
benchmark, the JPMorgan Emerging Market Bond Index Plus. The
fund was helped by the fact that it holds a lower weighting in
dollar-denominated securities than the benchmark.

The fund also outperformed the 9.53% average return of the
66 funds in the Lipper peer group  Emerging Markets Debt
Funds.5 The fund's return remains well ahead of the peer group
average for the three- and five-year intervals, and ranks in the top
18% and 19%, respectively, among comparable funds for these
time periods.

Q: What specific events affected Latin America during the past
year, and how was the fund positioned in the region?

A:In Brazil  the largest issuer in the asset class  the news
flow was positive. The country's local currency rating was
upgraded to investment grade, fiscal performance continued to
shine, the trade surplus remained robust and foreign direct
investment rose to a record level. In addition, low inflation allowed
the central bank to continue reducing interest rates. All of these
events pointed to a positive outlook for growth, supporting the
performance of the country's sovereign debt and leading to an
appreciation of its currency against the US dollar. The fund's core
position in Brazil served the fund well as a result. We also used
the market weakness in August to add to the fund's holdings of
Brazil's dollar-denominated external debt. When these bonds
subsequently rallied, we elected to take profits. We maintain a
positive outlook regarding the prospects for further interest rate
reductions by Brazil's central bank.

Presidential elections in Ecuador created considerable volatility in
the country's external debt during the period, with an initial sharp
drop in prices following the populist candidate Rafael Correa's
victory in the 2006 November election. The initial hostile rhetoric
of the new administration  which included the threat of Ecuador
defaulting on its debt  was subsequently toned down as the
economy minister was replaced and his successor adopted a
more pragmatic approach towards future debt service, albeit
without ruling out the possibility of future restructuring.
Nevertheless, Ecuador was one of the strongest performers in
the dollar-denominated segment of the emerging-bond market
during the past year. We added value in the early part of the
annual period by having zero holdings in the country as its bonds
were underperforming following Correa's election to the
presidency. We subsequently established a position once the
administration adopted a more market-friendly tone regarding its
external debt service payments. The bonds have performed well
for the fund since this purchase.

More recently, we have increased the fund's holdings in
Venezuela. Although the unorthodox economic policies of the
Chavez administration present a notable source of concern for
Venezuela's longer-term economic outlook, the country's
near-term debt service capacity remains comfortably supported
by the high level of oil prices. In addition, Venezuela remains
one of the highest-yielding assets in the hard currency
emerging-market universe.

The fund's holdings in Argentina generally detracted from
performance, as investors began to reappraise the long-term
economic impact of some of President Kirchner's economic
policies. We reduced the duration of the fund's holdings in
Argentina during the past year in order to mitigate risk. It should
be noted, however, that Argentina continues to offer a high yield
even though its capacity to service debt in the near term is not in
question.

Q: What were some notable developments outside of Latin
America?

A:Turkey experienced a more turbulent environment. The military
intervened during the presidential election process in May,
temporarily putting a dark cloud over Turkish assets. Calm
prevailed following the June elections, however. While the military
issued another coded warning prior to the vote about maintaining
its vigilance of a secular state, it stopped short in sparking a
repeat of the political crisis that occurred in May. The result was a
strong rally on Turkish assets during the latter part of the period.
Overall, the fund's position in Turkey was a positive factor in
performance. We maintain a positive outlook for Turkey given that
its central bank has recently begun a policy of monetary easing.

Political risk heightened in Pakistan as President Musharraf's grip
on power weakened ahead of year-end elections. While Pakistan's
economic performance has been robust and fiscal discipline has
remained in place, the cloudy political situation led to sharp
increase in the country's risk premium. Our holdings in Pakistan
detracted from performance as a result, and we elected to reduce
the fund's position in the country as the political outlook
deteriorated. We are awaiting further clarity on the political front
before altering our position again.

Ukrainian assets performed well despite political tensions in the
country While the outlook for Ukrainian debt remains supportive,
underpinned by strong economic growth and limited sovereign
indebtedness, there are a few issues on the horizon. It remains to
be seen how long the new government will remain intact given its
narrow majority in parliament, and the pro-Western government
may find relations somewhat strained with Russia, resulting in
higher gas import prices.

Q: What is your overall view on emerging-markets debt?

A:We believe the market recovery that took place during August
and September is in large part a reflection of emerging-market
fundamentals, which remain robust on the whole. While further
bouts of volatility related to credit concerns in the developed
markets cannot be ruled out, we continue to believe that a
moderate slowdown in the US economy should have limited
impact on the emerging markets. The reason for this is that the
global economy continues to decouple from the United States,
largely the result of vibrant growth in China. The robust outlook
for global growth, in turn, should keep commodity prices buoyant,
supporting the trade balances of the commodity-exporting
countries. With this as a backdrop, we believe the fundamental
underpinnings of the emerging-debt markets remain in place. A
more pronounced global economic slowdown may prompt a
reappraisal of this outlook, but in our view this appears to be an
unlikely scenario.

Portfolio SummaryOctober 31, 2007

|Asset Allocation(As a % of Investment Portfolio excluding
Securities Lending Collateral) | 10/31/07 | 10/31/06
|---------------------------------------------------------------------------------------- | -------- | --------
|                                                                                         |          |         
|Sovereign Bonds                                                                          | 80%      | 79%     
|Financials                                                                               | 7%       | 12%     
|Loan Participations                                                                      | 3%       | 4%      
|Energy                                                                                   | 2%       |        
|Industrials                                                                              | 2%       |        
|Consumer Discretionary                                                                   | 2%       |        
|Utilities                                                                                | 2%       |        
|Cash Equivalents                                                                         | 1%       |        
|Consumer Staples                                                                         | 1%       |        
|US Treasury Obligations                                                                  |         | 4%      
|Telecommunications                                                                       |         | 1%      
|                                                                                         | 100%     | 100%    

|Geographical Diversification(As a % of Investment
Portfolio excluding Cash Equivalents and Securities Lending
Collateral) | 10/31/07 | 10/31/06
|------------------------------------------------------------------------------------------------------------------------- | -------- | --------
|                                                                                                                          |          |         
|Brazil                                                                                                                    | 17%      | 25%     
|Turkey                                                                                                                    | 13%      | 11%     
|Argentina                                                                                                                 | 10%      | 10%     
|Venezuela                                                                                                                 | 10%      | 5%      
|Peru                                                                                                                      | 6%       | 2%      
|Indonesia                                                                                                                 | 6%       | 5%      
|Philippines                                                                                                               | 6%       | 9%      
|Colombia                                                                                                                  | 5%       | 2%      
|Russia                                                                                                                    | 4%       | 5%      
|Egypt                                                                                                                     | 3%       | 2%      
|Other                                                                                                                     | 20%      | 24%     
|                                                                                                                          | 100%     | 100%    

Asset allocation and geographical diversification are subject to change.

|Currency Exposure     | 10/31/07 | 10/31/06
|--------------------- | -------- | --------
|                      |          |         
|US Dollar             | 75%      | 82%     
|Russian Ruble         | 5%       | 2%      
|Brazilian Real        | 4%       | 1%      
|Peruvian Nouveau Sol  | 3%       |        
|Egyptian Pound        | 3%       | 2%      
|Indonesian Rupiah     | 3%       | 3%      
|Chinese Yuan Renminbi | 2%       |        
|Turkish Lira          | 2%       | 2%      
|South African Rand    | 2%       | 3%      
|Argentine Peso        | 1%       | 3%      
|Kazakhstan Tenge      |         | 2%      
|                      | 100%     | 100%    

|Average Life(Excludes Cash Equivalents and Securities Lending Collateral) | 10/31/07 | 10/31/06
|------------------------------------------------------------------------- | -------- | --------
|                                                                          |          |         
|0 < 3 years                                                               | 5%       | 6%      
|3 < 5 years                                                               | 15%      | 11%     
|5 < 10 years                                                              | 29%      | 30%     
|10+ years                                                                 | 51%      | 53%     
|                                                                          | 100%     | 100%    

Currency exposure and average life are subject to change.

For more complete details about the Fund's investment portfolio, see page 23. A quarterly
Fact Sheet is available upon request. Information concerning portfolio holdings of the Fund
as of month end will be posted to www.dws-scudder.com on or after the last day of the
following month. Please see the Account Management Resources section for contact
information.

Following the Fund's fiscal first and third quarter-end, a complete portfolio
holdings listing is filed with the SEC on Form N-Q. The form will be
available on the SEC's Web site at www.sec.gov, and it also may be
reviewed and copied at the SEC's Public Reference Room in Washington,
D.C. Information on the operation of the SEC's Public Reference Room
may be obtained by calling (800) SEC-0330.

Investment Portfolioas of October 31, 2007

|                                                                                                           | Principal
Amount ($) (a) | Value ($) 
|---------------------------------------------------------------------------------------------------------- | ------------------------ | ----------
|                                                                                                           |                         
|Bonds 93.3%                                                                                               
|Argentina 9.9%                                                                                            
|Banco Hipotecario SA, Series REG S, 
9.75%, 4/27/2016                                                      | 2,500,000                | 2,500,000 
|Central Bank of Argentina, 2.0%, 2/4/2018      ARS                                                         | 5,400,000                | 2,219,559 
|Republic of Argentina:                                                                                     |                          |           
|Zero Coupon, 7/22/2003*        EUR                                                                         | 750,000                  | 348,847   
|Series MAY, 7.0%, 3/18/2004*   EUR                                                                         | 130,000                  | 60,730    
|Series X, 7.0%, 4/17/2017                                                                                  | 15,700,000               | 13,259,958
|8.0%, 10/30/2009*      EUR                                                                                 | 511,292                  | 228,670   
|Series BGLO, 8.375%, 12/20/2003*                                                                           | 3,000,000                | 1,057,500 
|Series REG S, 9.0%, 5/24/2005* EUR                                                                         | 520,000                  | 250,153   
|9.0%, 5/26/2009*       EUR                                                                                 | 2,800,000                | 1,346,287 
|Series E, 9.25%, 7/20/2004*    EUR                                                                         | 3,000,000                | 1,379,743 
|9.75%, 11/26/2003*     EUR                                                                                 | 850,000                  | 393,390   
|10.0%, 12/7/2004*      EUR                                                                                 | 2,000,000                | 890,857   
|Series BGL4, 11.0%, 10/9/2006*                                                                             | 500,000                  | 181,250   
|Series 2018, 12.25%, 6/19/2018*                                                                            | 2,292,300                | 830,959   
|12.375%, 2/21/2012*                                                                                        | 1,900,000                | 700,625   
|(Cost $25,633,249)                                                                                         | 25,648,528              
|Brazil 16.0%                                                                                              
|Federative Republic of Brazil:                                                                             |                          |           
|7.125%, 1/20/2037                                                                                          | 6,600,000                | 7,623,000 
|8.25%, 1/20/2034                                                                                           | 9,600,000                | 12,441,600
|ISA Capital do Brasil SA, Series REG S, 
8.8%, 1/30/2017                                                   | 2,000,000                | 2,090,000 
|Notas do Tesouro Nacional, 10.0%, 1/1/2017     BRL                                                         | 37,000,000               | 19,116,040
|(Cost $38,623,788)                                                                                         | 41,270,640              
|China 1.5%                                                                                                
|Parkson Retail Group Ltd.:                                                                                 |                          |           
|7.125%, 5/30/2012                                                                                          | 670,000                  | 659,414   
|7.875%, 11/14/2011                                                                                         | 3,100,000                | 3,154,250 
|(Cost $3,815,656)                                                                                          | 3,813,664               
|Colombia 4.7%                                                                                             
|EEB International Ltd., Series REG S, 
8.75%, 10/31/2014                                                   | 1,100,000                | 1,141,800 
|Republic of Colombia, 7.375%, 9/18/2037                                                                    | 9,750,000                | 11,134,500
|(Cost $11,765,065)                                                                                         | 12,276,300              
|Dominican Republic 0.9%                                                                                   
|Cerveceria Nacional Dominicana, Series REG S,
16.0%, 3/27/2012 (Cost $2,336,855)                           | 2,300,000                | 2,397,750 
|Ecuador 2.6%                                                                                              
|Republic of Ecuador:                                                                                       |                          |           
|Series REG S, 9.375%, 12/15/2015                                                                           | 2,050,000                | 2,050,000 
|Series REG S, 10.0%, 8/15/2030                                                                             | 4,860,000                | 4,641,300 
|(Cost $6,000,034)                                                                                          | 6,691,300               
|Egypt 2.9%                                                                                                
|Republic of Egypt:                                                                                         |                          |           
|Series REG S, 8.75%, 7/18/2012 EGP                                                                         | 27,700,000               | 5,171,001 
|9.1%, 7/12/2010        EGP                                                                                 | 10,700,000               | 2,026,164 
|9.35%, 8/16/2010       EGP                                                                                 | 2,300,000                | 434,864   
|(Cost $7,152,593)                                                                                          | 7,632,029               
|Ghana 2.0%                                                                                                
|Republic of Ghana, Series REG S,
8.5%, 10/4/2017 (Cost $5,153,161)                                         | 5,100,000                | 5,237,700 
|Indonesia 5.8%                                                                                            
|BLT Finance BV, Series REG S, 7.5%, 5/15/2014                                                              | 3,700,000                | 3,357,750 
|Government of Indonesia:                                                                                   |                          |           
|Series FR-43, 10.25%, 7/15/2022        IDR                                                                 | 18,740,000,000           | 2,123,881 
|Series FR-23, 11.0%, 12/15/2012        IDR                                                                 | 4,400,000,000            | 527,652   
|Series FR-26, 11.0%, 10/15/2014        IDR                                                                 | 17,930,000,000           | 2,169,674 
|Series FR-33, 12.5%, 3/15/2013,        IDR                                                                 | 14,200,000,000           | 1,803,909 
|Majapahit Holding BV:                                                                                      |                          |           
|Series REG S, 7.25%, 6/28/2017                                                                             | 1,600,000                | 1,626,080 
|Series REG S, 7.75%, 10/17/2016                                                                            | 3,300,000                | 3,271,125 
|(Cost $14,655,795)                                                                                         | 14,880,071              
|Mexico 2.5%                                                                                               
|Desarrolladora Homex SAB de CV, 
7.5%, 9/28/2015                                                           | 1,000,000                | 1,015,000 
|Mexican Bonds, Series M-20, 8.0%, 12/7/2023    MXN                                                         | 54,500,000               | 5,152,263 
|Urbi, Desarrollos Urbanos SA de CV,
Series REG S, 8.5%, 4/19/2016                                          | 210,000                  | 216,300   
|(Cost $6,263,631)                                                                                          | 6,383,563               
|Netherlands 1.5%                                                                                          
|GTB Finance BV, 8.5%, 1/29/2012 (Cost $3,863,976)                                                          | 3,900,000                | 3,763,500 
|Pakistan 2.1%                                                                                             
|Republic of Pakistan, Series REG S,
6.875%, 6/1/2017 (Cost $5,960,946)                                     | 6,020,000                | 5,387,900 
|Peru 6.1%                                                                                                 
|Republic of Peru:                                                                                          |                          |           
|6.55%, 3/14/2037                                                                                           | 7,400,000                | 7,788,500 
|Series REG S, 6.9%, 8/12/2037  PEN                                                                         | 22,500,000               | 7,866,808 
|(Cost $14,877,631)                                                                                         | 15,655,308              
|Philippines 5.4%                                                                                          
|Bangko Sentral Ng Pilipinas, Series A, 
8.6%, 6/15/2027                                                    | 3,350,000                | 4,045,125 
|Republic of Philippines:                                                                                   |                          |           
|7.75%, 1/14/2031                                                                                           | 5,550,000                | 6,327,000 
|8.25%, 1/15/2014                                                                                           | 3,110,000                | 3,502,482 
|(Cost $12,943,999)                                                                                         | 13,874,607              
|Russia 1.7%                                                                                               
|Red Arrow International Leasing, "A", 
8.375%, 6/30/2012       RUB                                         | 76,075,655               | 3,125,052 
|TNK-BP Finance SA, Series 5, REG S, 
7.5%, 3/13/2013                                                       | 1,400,000                | 1,399,859 
|(Cost $4,234,082)                                                                                          | 4,524,911               
|Serbia 2.6%                                                                                               
|Republic of Serbia, Series REG S, Step-up Coupon,
3.75% to 11/1/2009, 6.75% to 11/1/2024
(Cost $6,635,409) | 7,000,000                | 6,685,000 
|Turkey 12.9%                                                                                              
|Republic of Turkey:                                                                                        |                          |           
|6.875%, 3/17/2036                                                                                          | 7,200,000                | 7,137,360 
|8.0%, 2/14/2034                                                                                            | 7,900,000                | 8,857,480 
|Series CPI, 10.0%, 2/15/2012   TRY                                                                         | 8,200,000                | 7,492,598 
|16.0%, 3/7/2012        TRY                                                                                 | 11,100,000               | 9,738,209 
|(Cost $30,707,420)                                                                                         | 33,225,647              
|Uruguay 2.9%                                                                                              
|Republic of Uruguay:                                                                                       |                          |           
|7.625%, 3/21/2036                                                                                          | 2,260,000                | 2,525,550 
|7.875%, 1/15/2033, (PIK)                                                                                   | 1,000,000                | 1,135,000 
|8.0%, 11/18/2022                                                                                           | 3,400,000                | 3,876,000 
|(Cost $7,066,352)                                                                                          | 7,536,550               
|Venezuela 9.3%                                                                                            
|Petroleos de Venezuela SA, Series REG S,
5.375%, 4/12/2027                                                 | 7,700,000                | 4,970,350 
|Republic of Venezuela:                                                                                     |                          |           
|7.65%, 4/21/2025                                                                                           | 7,100,000                | 6,727,250 
|9.25%, 9/15/2027                                                                                           | 11,200,000               | 12,275,200
|(Cost $23,638,097)                                                                                         | 23,972,800              
|Total Bonds (Cost $231,327,739)                                                                            | 240,857,768             
|                                                                                                          
|Loan Participations 3.6%                                                                                  
|Russia 2.0%                                                                                               
|Alfa Bank, 8.635%, 2/22/2017                                                                               | 3,800,000                | 3,553,418 
|Gazprombank, 7.25%, 2/22/2010  RUB                                                                         | 12,800,000               | 518,024   
|Gazprom, Series REG S, 7.288%, 8/16/2037                                                                   | 1,000,000                | 1,054,760 
|(Cost $5,351,397)                                                                                          | 5,126,202               
|Ukraine 1.6%                                                                                              
|Alfa Bank-Ukraine, Series 2006-02, 9.75%, 12/22/2009                                                       | 2,200,000                | 2,164,360 
|Export-Import Bank of Ukraine, 7.65%, 9/7/2011                                                             | 2,000,000                | 2,044,538 
|(Cost $4,236,418)                                                                                          | 4,208,898               
|Total Loan Participations (Cost $9,587,815)                                                                | 9,335,100               

|                                                      | Shares    | Value ($)
|----------------------------------------------------- | --------- | ---------
|                                                      |          
|Cash Equivalents 1.2%                                
|Cash Management QP Trust, 5.06% (b) (Cost $3,039,870) | 3,039,870 | 3,039,870

|                                               | % of Net
Assets | Value ($)  
|---------------------------------------------- | --------------- | -----------
|                                               |                
|Total Investment Portfolio(Cost $243,955,424)+ | 98.1            | 253,232,738
|Other Assets and Liabilities, Net              | 1.9             | 4,981,193  
|Net Assets                                     | 100.0           | 258,213,931

|Securities             | Coupon      | Maturity
Date | Principal Amount | Acquisition
Cost ($) | Value ($)
|---------------------- | ----------- | ------------- | ---------------- | -------------------- | ---------
|Republic of
Argentina: | Zero Coupon | 7/22/2003     | 750,000          | EUR                  | 287,140  
|                       | 7.0%        | 3/18/2004     | 130,000          | EUR                  | 48,882   
|                       | 8.0%        | 10/30/2009    | 511,292          | EUR                  | 194,841  
|                       | 8.375%      | 12/20/2003    | 3,000,000        | USD                  | 917,400  
|                       | 9.0%        | 5/24/2005     | 520,000          | EUR                  | 195,329  
|                       | 9.0%        | 5/26/2009     | 2,800,000        | EUR                  | 1,044,405
|                       | 9.25%       | 7/20/2004     | 3,000,000        | EUR                  | 1,131,461
|                       | 9.75%       | 11/26/2003    | 850,000          | EUR                  | 322,360  
|                       | 10.0%       | 12/7/2004     | 2,000,000        | EUR                  | 757,289  
|                       | 11.0%       | 10/9/2006     | 500,000          | USD                  | 156,300  
|                       | 12.25%      | 6/19/2018     | 2,292,300        | USD                  | 748,436  
|                       | 12.375%     | 2/21/2012     | 1,900,000        | USD                  | 714,572  
|                       |             |               |                  |                      | 6,518,415

PIK: Denotes that all or a portion of the income is paid in kind.

As of October 31, 2007, the Fund had the following open forward foreign currency exchange
contracts:

|Contracts to Deliver                           |           | In Exchange For |     | Settlement
Date | Unrealized
Appreciation
(US $)
|---------------------------------------------- | --------- | --------------- | --- | --------------- | ------------------------------
|USD                                            | 5,056,043 |                 | MXN | 54,446,000      |                               
|USD                                            | 8,770,381 |                 | RUB | 220,005,000     |                               
|USD                                            | 5,026,106 |                 | ZAR | 34,944,000      |                               
|USD                                            | 5,506,107 |                 | CNY | 39,220,000      |                               
|Total net unrealized appreciation/depreciation | 441,553  

|Contracts to Deliver                           |             | In Exchange For |     | Settlement
Date | Unrealized
(Depreciation)
(US $)
|---------------------------------------------- | ----------- | --------------- | --- | --------------- | --------------------------------
|BRL                                            | 16,806,000  |                 | USD | 9,153,595       |                                 
|EUR                                            | 2,709,000   |                 | USD | 3,871,500       |                                 
|MXN                                            | 54,446,000  |                 | USD | 4,998,256       |                                 
|TRY                                            | 14,161,000  |                 | USD | 11,405,445      |                                 
|USD                                            | 2,040,000   |                 | UAH | 10,200,000      |                                 
|Total net unrealized appreciation/depreciation | (1,023,338)

|Currency Abbreviations                                                                                                                                                                                                                                                                                    
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|ARS     Argentine PesoBRL     Brazilian RealCNY     Chinese Yuan RenminbiEGP     Egyptian PoundEUR     EuroIDR     Indonesian RupiahMXN     Mexican PesoPEN     Peruvian Nouveau SolRUB     Russian RubleTRY     Turkish LiraUAH     Ukraine HryvniaUSD     United States DollarZAR     South African Rand

The accompanying notes are an integral part of the financial statements.

Financial Statements

|Statement of Assets and Liabilitiesas of October 31, 2007             
|----------------------------------------------------------------------
|Assets                                                                
|Investments:Investments in securities, at value (cost $240,915,554)   
|Investment in Cash Management QP Trust (cost $3,039,870)              
|Total investments, at value (cost $243,955,424)                       
|Foreign currency, at value (cost $941,433)                            
|Interest receivable                                                   
|Receivable for Fund shares sold                                       
|Foreign taxes recoverable                                             
|Unrealized appreciation on forward foreign currency exchange contracts
|Due from Advisor                                                      
|Other assets                                                          
|Total assets                                                          
|Liabilities                                                           
|Cash overdraft                                                        
|Payable for Fund shares redeemed                                      
|Unrealized depreciation on forward foreign currency exchange contracts
|Accrued management fee                                                
|Other accrued expenses and payables                                   
|Total liabilities                                                     
|Net assets, at value                                                  
|Net Assets Consist of                                                 
|Undistributed net investment income                                   
|Net unrealized appreciation (depreciation) on:Investments             
|Foreign currency                                                      
|Accumulated net realized gain (loss)                                  
|Paid-in capital                                                       
|Net assets, at value                                                  

The accompanying notes are an integral part of the financial statements.

|Statement of Assets and Liabilitiesas of October 31, 2007 (continued)                                                                                                                                                        
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Net Asset Value                                                                                                                                                                                                              
|Class A
Net Asset Value and redemption price(a) per share
($43,240,310 ÷ 3,462,188 shares of capital stock outstanding,
$.01 par value, 50,000,000 shares authorized)                                                        
|Maximum offering price per share (100 ÷ 95.5 of $12.49)                                                                                                                                                                      
|Class B
Net Asset Value, offering and redemption price(a) (subject to contingent
deferred sales charge) per share ($2,394,899 ÷ 191,176 shares of capital
stock outstanding, $.01 par value, 50,000,000 shares authorized)   
|Class C
Net Asset Value, offering and redemption price(a) (subject to contingent
deferred sales charge) per share ($13,377,802 ÷ 1,069,118 shares of
capital stock outstanding, $.01 par value, 20,000,000 shares authorized)
|Class S
Net Asset Value, offering and redemption price(a)per share
($199,200,920 ÷ 15,952,134 shares of capital stock outstanding,
$.01 par value, 100,000,000 shares authorized)                                            

The accompanying notes are an integral part of the financial statements.

|Statement of Operationsfor the year ended October 31, 2007)                                              
|---------------------------------------------------------------------------------------------------------
|Investment Income                                                                                        
|Income:Interest (net of foreign taxes withheld of $129,738)                                              
|Interest  Cash Management QP Trust                                                                      
|Securities lending income, including income from Daily Assets Fund
Institutional, net of borrower rebates
|Total Income                                                                                             
|Expenses:Management fee                                                                                  
|Administration fee                                                                                       
|Services to shareholders                                                                                 
|Custodian fee                                                                                            
|Distribution and service fees                                                                            
|Professional fees                                                                                        
|Directors' fees and expenses                                                                             
|Reports to shareholders                                                                                  
|Registration fees                                                                                        
|Other                                                                                                    
|Total expenses before expense reductions                                                                 
|Expense reductions                                                                                       
|Total expenses after expense reductions                                                                  
|Net investment income                                                                                    
|Realized and Unrealized Gain (Loss)                                                                      
|Net realized gain (loss) from:Investments (net of foreign taxes of $155)                                 
|Foreign currency (including foreign taxes of $78,631)                                                    
|                                                                                                         
|Change in net unrealized appreciation (depreciation) on:Investments                                      
|Foreign currency                                                                                         
|                                                                                                         
|Net gain (loss)                                                                                          
|Net increase (decrease) in net assets resulting from operations                                          

The accompanying notes are an integral part of the financial statements.

|Statement of Changes in Net Assets                                                                                    
|----------------------------------------------------------------------------------------------------------------------
|Increase (Decrease) in Net Assets                                                                                     
|2007                                                                                                                  
|Operations:Net investment income                                                                                      
|Net realized gain (loss)                                                                                              
|Change in net unrealized appreciation (depreciation)                                                                  
|Net increase (decrease) in net assets resulting from
operations                                                       
|Distributions to shareholders from:Net investment income:Class A                                                      
|Class B                                                                                                               
|Class C                                                                                                               
|Class AARP                                                                                                            
|Class S                                                                                                               
|Fund share transactions:Proceeds from shares sold                                                                     
|Reinvestment of distributions                                                                                         
|Cost of shares redeemed                                                                                               
|Redemption fees                                                                                                       
|Net increase (decrease) in net assets from Fund share
transactions                                                    
|Increase (decrease) in net assets                                                                                     
|Net assets at beginning of period                                                                                     
|Net assets at end of period (including undistributed
net investment income of $1,073,014 and $3,158,950,
respectively)

The accompanying notes are an integral part of the financial statements.

Financial Highlights

|Class A
Years Ended October 31,                                                                                                                                                                                             | 2007       | 2006       | 2005       | 2004       | 2003     
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- | ---------- | ---------- | ---------- | ---------
|Selected Per Share Data                                                                                                                                                                                                    
|Net asset value, beginning of period                                                                                                                                                                                        | $    12.12 | $    11.31 | $    10.33 | $    9.53  | $    7.74
|Income (loss) from investment operations:
Net investment incomea                                                                                                                                                            | .79        | .68        | .66        | .51        | .54      
|Net realized and unrealized gain (loss)                                                                                                                                                                                     | .37        | .82        | .81        | .79        | 1.83     
|Total from investment operations                                                                                                                                                                                            | 1.16       | 1.50       | 1.47       | 1.30       | 2.37     
|Less distributions from:
Net investment income                                                                                                                                                                              | (.79)      | (.69)      | (.49)      | (.50)      | (.58)    
|Redemption fees                                                                                                                                                                                                             | .00*       | .00*       | .00*       |           |         
|Net asset value, end of period                                                                                                                                                                                              | $    12.49 | $    12.12 | $    11.31 | $    10.33 | $    9.53
|Total Return (%)b                                                                                                                                                                                                           | 9.92       | 13.58c     | 14.44c     | 14.01c     | 31.53c   
|Ratios to Average Net Assets and Supplemental Data                                                                                                                                                                         
|Net assets, end of period ($ millions)                                                                                                                                                                                      | 43         | 18         | 12         | 7          | 4        
|Ratio of expenses before expense
reductions (%)                                                                                                                                                                             | 1.34       | 1.68       | 1.69       | 1.82       | 1.86     
|Ratio of expenses after expense
reductions (%)                                                                                                                                                                              | 1.34       | 1.56       | 1.54       | 1.54       | 1.84     
|Ratio of net investment income (%)                                                                                                                                                                                          | 6.40       | 5.83       | 6.03       | 5.19       | 6.13     
|Portfolio turnover rate (%)                                                                                                                                                                                                 | 173        | 224        | 283        | 236        | 327      
|aBased on average shares outstanding during the period.bTotal return does not reflect the effect of any sales charges.cTotal return would have been lower had certain expenses not been reduced.*Amount is less than $.005.

|Class B
Years Ended October 31,                                                                                                                                                                                             | 2007       | 2006       | 2005       | 2004       | 2003     
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- | ---------- | ---------- | ---------- | ---------
|Selected Per Share Data                                                                                                                                                                                                    
|Net asset value, beginning of period                                                                                                                                                                                        | $    12.17 | $    11.35 | $    10.36 | $    9.55  | $    7.76
|Income (loss) from investment operations:
Net investment incomea                                                                                                                                                            | .68        | .59        | .58        | .44        | .46      
|Net realized and unrealized gain (loss)                                                                                                                                                                                     | .37        | .83        | .82        | .79        | 1.83     
|Total from investment operations                                                                                                                                                                                            | 1.05       | 1.42       | 1.40       | 1.23       | 2.29     
|Less distributions from:
Net investment income                                                                                                                                                                              | (.69)      | (.60)      | (.41)      | (.42)      | (.50)    
|Redemption fees                                                                                                                                                                                                             | .00*       | .00*       | .00*       |           |         
|Net asset value, end of period                                                                                                                                                                                              | $    12.53 | $    12.17 | $    11.35 | $    10.36 | $    9.55
|Total Return (%)b,c                                                                                                                                                                                                         | 8.94       | 12.79      | 13.54      | 13.25      | 30.23    
|Ratios to Average Net Assets and Supplemental Data                                                                                                                                                                         
|Net assets, end of period ($ millions)                                                                                                                                                                                      | 2          | 2          | 3          | 2          | 2        
|Ratio of expenses before expense
reductions (%)                                                                                                                                                                             | 2.28       | 2.58       | 2.62       | 2.73       | 2.72     
|Ratio of expenses after expense
reductions (%)                                                                                                                                                                              | 2.19       | 2.33       | 2.28       | 2.31       | 2.69     
|Ratio of net investment income (loss) (%)                                                                                                                                                                                   | 5.54       | 5.06       | 5.28       | 4.42       | 5.28     
|Portfolio turnover rate (%)                                                                                                                                                                                                 | 173        | 224        | 283        | 236        | 327      
|aBased on average shares outstanding during the period.bTotal return does not reflect the effect of any sales charges.cTotal return would have been lower had certain expenses not been reduced.*Amount is less than $.005.

|Class C
Years Ended October 31,                                                                                                                                                                                             | 2007       | 2006       | 2005       | 2004       | 2003     
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- | ---------- | ---------- | ---------- | ---------
|Selected Per Share Data                                                                                                                                                                                                    
|Net asset value, beginning of period                                                                                                                                                                                        | $    12.14 | $    11.33 | $    10.35 | $    9.55  | $    7.76
|Income (loss) from investment operations:
Net investment incomea                                                                                                                                                            | .69        | .59        | .58        | .44        | .47      
|Net realized and unrealized gain (loss)                                                                                                                                                                                     | .37        | .82        | .81        | .78        | 1.83     
|Total from investment operations                                                                                                                                                                                            | 1.06       | 1.41       | 1.39       | 1.22       | 2.30     
|Less distributions from:
Net investment income                                                                                                                                                                              | (.69)      | (.60)      | (.41)      | (.42)      | (.51)    
|Redemption fees                                                                                                                                                                                                             | .00*       | .00*       | .00*       |           |         
|Net asset value, end of period                                                                                                                                                                                              | $    12.51 | $    12.14 | $    11.33 | $    10.35 | $    9.55
|Total Return (%)b                                                                                                                                                                                                           | 9.06       | 12.80c     | 13.57c     | 13.16c     | 30.13c   
|Ratios to Average Net Assets and Supplemental Data                                                                                                                                                                         
|Net assets, end of period ($ millions)                                                                                                                                                                                      | 13         | 6          | 4          | 7          | .723     
|Ratio of expenses before expense
reductions (%)                                                                                                                                                                             | 2.13       | 2.45       | 2.43       | 2.46       | 2.69     
|Ratio of expenses after expense
reductions (%)                                                                                                                                                                              | 2.13       | 2.32       | 2.29       | 2.31       | 2.68     
|Ratio of net investment income (%)                                                                                                                                                                                          | 5.60       | 5.07       | 5.28       | 4.42       | 5.29     
|Portfolio turnover rate (%)                                                                                                                                                                                                 | 173        | 224        | 283        | 236        | 327      
|aBased on average shares outstanding during the period.bTotal return does not reflect the effect of any sales charges.cTotal return would have been lower had certain expenses not been reduced.*Amount is less than $.005.

|Class S
Years Ended October 31,                                                                                                                              | 2007       | 2006       | 2005       | 2004       | 2003     
|------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | ---------- | ---------- | ---------- | ---------
|Selected Per Share Data                                                                                                                                     
|Net asset value, beginning of period                                                                                                                         | $    12.13 | $    11.31 | $    10.33 | $    9.53  | $    7.74
|Income (loss) from investment operations:
Net investment incomea                                                                                             | .81        | .71        | .69        | .54        | .57      
|Net realized and unrealized gain (loss)                                                                                                                      | .37        | .83        | .81        | .78        | 1.82     
|Total from investment operations                                                                                                                             | 1.18       | 1.54       | 1.50       | 1.32       | 2.39     
|Less distributions from:
Net investment income                                                                                                               | (.82)      | (.72)      | (.52)      | (.52)      | (.60)    
|Redemption fees                                                                                                                                              | .00*       | .00*       | .00*       |           |         
|Net asset value, end of period                                                                                                                               | $    12.49 | $    12.13 | $    11.31 | $    10.33 | $    9.53
|Total Return (%)b                                                                                                                                            | 10.10      | 13.90      | 14.71      | 14.36      | 31.71    
|Ratios to Average Net Assets and Supplemental Data                                                                                                          
|Net assets, end of period ($ millions)                                                                                                                       | 199        | 182        | 154        | 142        | 140      
|Ratio of expenses before expense
reductions (%)                                                                                                              | 1.19       | 1.40       | 1.43       | 1.61       | 1.66     
|Ratio of expenses after expense
reductions (%)                                                                                                               | 1.15       | 1.27       | 1.31       | 1.29       | 1.63     
|Ratio of net investment income (loss) (%)                                                                                                                    | 6.58       | 6.12       | 6.26       | 5.44       | 6.34     
|Portfolio turnover rate (%)                                                                                                                                  | 173        | 224        | 283        | 236        | 327      
|aBased on average shares outstanding during the period.bTotal return would have been lower had certain expenses not been reduced.*Amount is less than $.005.

Notes to Financial Statements

A. Significant Accounting Policies

DWS Emerging Markets Fixed Income Fund (the "Fund") is a
non-diversified series of DWS Global/International Fund, Inc. (the
"Corporation") which is registered under the Investment Company Act of
1940, as amended (the "1940 Act"), as an open-end management
investment company organized as a Maryland Corporation.

The Fund offers multiple classes of shares which provide investors with
different purchase options. Class A shares are offered to investors subject
to an initial sales charge. Class B shares are offered to investors without
an initial sales charge but are subject to higher ongoing expenses than
Class A shares and a contingent deferred sales charge payable upon
certain redemptions. Class B shares automatically convert to Class A
shares six years after issuance. Class C shares are offered to investors
without an initial sales charge but are subject to higher ongoing expenses
than Class A shares and a contingent deferred sales charge payable upon
certain redemptions within one year of purchase. Class C shares do not
convert into another class. Class S shares are not subject to initial or
contingent deferred sales charges and are generally not available to new
investors except under certain circumstances.

Investment income, realized and unrealized gains and losses, and certain
fund-level expenses and expense reductions, if any, are borne pro rata on
the basis of relative net assets by the holders of all classes of shares,
except that each class bears certain expenses unique to that class such as
distribution and service fees, services to shareholders and certain other
class-specific expenses. Differences in class-level expenses may result in
payment of different per share dividends by class. All shares of the Fund
have equal rights with respect to voting subject to class-specific
arrangements.

The Fund's financial statements are prepared in accordance with
accounting principles generally accepted in the United States of America
which require the use of management estimates. Actual results could
differ from those estimates. The policies described below are followed
consistently by the Fund in the preparation of its financial statements.

Security Valuation. Investments are stated at value determined as of the
close of regular trading on the New York Stock Exchange on each day the
exchange is open for trading. Debt securities are valued by independent
pricing services approved by the Directors of the Fund. If the pricing
services are unable to provide valuations, the securities are valued at the
most recent bid quotation or evaluated price, as applicable, obtained from
a broker-dealer. Such services may use various pricing techniques which
take into account appropriate factors such as yield, quality, coupon rate,
maturity, type of issue, trading characteristics and other data, as well as
broker quotes.

Money market instruments purchased with an original or remaining
maturity of sixty days or less, maturing at par, are valued at amortized
cost. Investments in open-end investment companies and Cash
Management QP Trust are valued at their net asset value each business
day.

Securities and other assets for which market quotations are not readily
available or for which the above valuation procedures are deemed not to
reflect fair value are valued in a manner that is intended to reflect their fair
value as determined in accordance with procedures approved by the
Directors.

In September 2006, the Financial Accounting Standards Board ("FASB")
released Statement of Financial Accounting Standards No. 157, "Fair Value
Measurements" ("FAS 157"). FAS 157 defines fair value, establishes a
framework for measuring fair value and expands disclosures about fair
value measurements. FAS 157 is effective for fiscal years beginning after
November 15, 2007. As of October 31, 2007, management does not
believe the adoption of FAS 157 will impact the amounts reported in the
financial statements, however, additional disclosures will be required
about the inputs used to develop the measurements of fair value and the
effect of certain of the measurements reported in the statement of
operations for a fiscal period.

Securities Lending. The Fund may lend securities to financial institutions.
The Fund retains beneficial ownership of the securities it has loaned and
continues to receive interest and dividends paid by the issuer of securities
and to participate in any changes in their market value. The Fund requires
the borrowers of the securities to maintain collateral with the Fund
consisting of liquid unencumbered assets having a value at least equal to
the value of the securities loaned. The Fund may invest the cash collateral
into a joint trading account in an affiliated money market fund pursuant to
an Exemptive Order issued by the SEC. The Fund receives compensation
for lending its securities either in the form of fees or by earning interest
on invested cash collateral net of borrower rebates and fees paid to the
lending agent. Either the Fund or the borrower may terminate the loan.
The Fund is subject to all investment risks associated with the value of
any cash collateral received, including, but not limited to, interest rate,
credit and liquidity risk associated with such investments.

Foreign Currency Translations. The books and records of the Fund are
maintained in US dollars. Investment securities and other assets and
liabilities denominated in a foreign currency are translated into US dollars
at the prevailing exchange rates at period end. Purchases and sales of
investment securities, income and expenses are translated into US dollars
at the prevailing exchange rates on the respective dates of the
transactions.

Net realized and unrealized gains and losses on foreign currency
transactions represent net gains and losses between trade and
settlement dates on securities transactions, the disposition of forward
foreign currency exchange contracts and foreign currencies, and the
difference between the amount of net investment income accrued and
the US dollar amount actually received. That portion of both realized and
unrealized gains and losses on investments that results from fluctuations
in foreign currency exchange rates is not separately disclosed but is
included with net realized and unrealized gain/appreciation and
loss/depreciation on investments.

Forward Foreign Currency Exchange Contracts. A forward foreign
currency exchange contract ("forward currency contract") is a
commitment to purchase or sell a foreign currency at the settlement date
at a negotiated rate. The Fund may enter into forward currency contracts
in order to hedge its exposure to changes in foreign currency exchange
rates on its foreign currency denominated portfolio holdings and to
facilitate transactions in foreign currency denominated securities. The
Fund may also engage in forward currency contracts for non-hedging
purposes.

Forward currency contracts are valued at the prevailing forward exchange
rate of the underlying currencies and unrealized gain (loss) is recorded
daily. Sales and purchases of forward currency contracts having the same
settlement date and broker are offset and any gain (loss) is realized on the
date of offset; otherwise, gain (loss) is realized on settlement date.
Realized and unrealized gains and losses which represent the difference
between the value of a forward currency contract to buy and a forward
currency contract to sell are included in net realized and unrealized gain
(loss) from foreign currency.

Certain risks may arise upon entering into forward currency contracts from
the potential inability of counterparties to meet the terms of their contracts.
Additionally, when utilizing forward currency contracts to hedge, the Fund
gives up the opportunity to profit from favorable exchange rate movements
during the term of the contract.

Taxes. The Fund's policy is to comply with the requirements of the
Internal Revenue Code, as amended, which are applicable to regulated
investment companies, and to distribute all of its taxable income to its
shareholders. Accordingly, the Fund paid no federal income taxes and no
federal income tax provision was required.

At October 31, 2007, the Fund had a net tax basis capital loss
carryforward of approximately $12,344,000 which may be applied against
any realized net taxable capital gains of each succeeding year until fully
utilized, or until October 31, 2009, whichever occurs first. During the year
ended October 31, 2007, the Fund utilized approximately $8,267,000, and
lost, through expiration, $19,921,000 of prior year capital loss
carryforward.

Additionally, based on the Fund's understanding of the tax rules and rates
related to income, gains and transactions for the foreign jurisdictions in
which it invests, the Fund will provide for foreign taxes, and where
appropriate, deferred foreign taxes.

In July 2006, FASB issued Interpretation No. 48 ("FIN 48"), "Accounting
for Uncertainty in Income Taxes  an interpretation of FASB Statement
No. 109" (the "Interpretation"). The Interpretation establishes for the
Fund a minimum threshold for financial statement recognition of the
benefit of positions taken in filing tax returns (including whether the Fund
is taxable in certain jurisdictions), and requires certain expanded tax
disclosures. The Interpretation is effective for fiscal years beginning after
December 15, 2006. On December 22, 2006, the SEC indicated that they
would not object if a Fund implements FIN 48 in the first required financial
statement reporting period for its fiscal year beginning after December 15,
2006. Management is evaluating the application of the Interpretation to
the Fund and is not in a position at this time to estimate the significance
of its impact, if any, on the Fund's financial statements.

Distribution of Income and Gains. Net investment income of the Fund is
declared and distributed to shareholders quarterly. Net realized gains from
investment transactions, in excess of available capital loss carryforwards,
would be taxable to the Fund if not distributed, and, therefore, will be
distributed to shareholders at least annually.

The timing and characterization of certain income and capital gains
distributions are determined annually in accordance with federal tax
regulations which may differ from accounting principles generally
accepted in the United States of America. These differences primarily
relate to investment in foreign denominated investments, forward
currency contracts, recognition of certain foreign currency gains (losses)
as ordinary income (loss) and certain securities sold at a loss. As a result,
net investment income (loss) and net realized gain (loss) on investments
for a reporting period may differ significantly from distributions during
such period. Accordingly, the Fund may periodically make reclassifications
among certain of its capital accounts without impacting the net asset
value of the Fund.

At October 31, 2007, the Fund's components of distributable earnings
(accumulated losses) on a tax-basis were as follows:

|Undistributed ordinary income*                        | $       939,237     
|----------------------------------------------------- | --------------------
|Capital loss carryforwards                            | $       (12,344,000)
|Unrealized appreciation (depreciation) on investments | $       8,607,851   

In addition, the tax character of distributions paid to shareholders by the
Fund is summarized as follows:

|                                    | Years Ended October 31,
|----------------------------------- | -----------------------
|                                    | 2007                   
|Distributions from ordinary income* | $       15,173,372     

Redemption Fees. For the period from November 1, 2006 through
March 11, 2007, the redemption or exchange of shares held for less than
30 days were assessed a fee of 2% of the total amount redeemed or
exchanged. Effective March 12, 2007, the Fund imposes a redemption fee
of 2% of the total redemption amount on all Fund shares redeemed or
exchanged within 15 days of buying them, either by purchase or exchange.
This fee is assessed and retained by the Fund for the benefit of the
remaining shareholders. The redemption fee is accounted for as an
addition to paid-in capital.

Expenses. Expenses of the Corporation arising in connection with a
specific fund are allocated to that fund. Other Corporation expenses
which cannot be directly attributed to a fund are apportioned among the
funds in the Corporation.

Contingencies. In the normal course of business, the Fund may enter into
contracts with service providers that contain general indemnification
clauses. The Fund's maximum exposure under these arrangements is
unknown as this would involve future claims that may be made against
the Fund that have not yet been made. However, based on experience,
the Fund expects the risk of loss to be remote.

Other. Investment transactions are accounted for on a trade date plus one
basis for daily net asset value calculations. However, for financial reporting
purposes, investment security transactions are reported on trade date.
Interest income is recorded on the accrual basis. Realized gains and
losses from investment transactions are recorded on an identified cost
basis. All discounts and premiums are accreted/amortized for both tax and
financial reporting purposes with the exception of securities in default or
purchased in default.

B. Purchases and Sales of Securities

During the year ended October 31, 2007, purchases and sales of
investment securities (excluding short-term investments and US Treasury
Obligations) aggregated $347,636,244 and $295,935,668, respectively.
Purchases and sales of US Treasury obligations aggregated $81,122,359
and $89,153,680, respectively.

C. Related Parties

Management Agreement. Under the Investment Management
Agreement with Deutsche Investment Management Americas Inc.
("DIMA" or the "Advisor"), an indirect, wholly owned subsidiary of
Deutsche Bank AG, the Advisor directs the investments of the Fund in
accordance with its investment objectives, policies and restrictions. The
Advisor determines the securities, instruments and other contracts
relating to investments to be purchased, sold or entered into by the Fund
or delegates such responsibility to the Fund's subadvisor.

Pursuant to a written contract with the Advisor, Aberdeen Asset
Management Investment Services Limited ("AAMISL"), a direct, wholly
owned subsidiary of Aberdeen Asset Management PLC ("Aberdeen
PLC"), serves as the subadvisor to the Fund. AAMISL is paid for its
services by the Advisor from its fee as investment Advisor to the Fund.

Under the Investment Management Agreement with the Advisor, the
Fund pays a monthly management fee based on the Fund's average daily
net assets, computed and accrued daily and payable monthly, at the
following annual rates:

|First $500 million of the Fund's average daily net assets | .665%
|--------------------------------------------------------- | -----
|Next $500 million of such net assets                      | .650%
|Next $1.0 billion of such net assets                      | .635%
|Over $2.0 billion of such net assets                      | .620%

Accordingly, for the year ended October 31, 2007, the fee pursuant to the
Investment Management Agreement was equivalent to an annual
effective rate of 0.665% of the Fund's average daily net assets.

For the period from November 1, 2006, through September 30, 2007, and
from November 1, 2006 through February 28, 2007 for Class S shares,
the Advisor had contractually agreed to waive all or a portion of its
management fee and reimburse or pay certain operating expenses of the
Fund (excluding certain expenses such as extraordinary expenses, taxes,
brokerage, interest and organizational and offering expenses) to the extent
necessary to maintain the operating expenses of certain classes as
follows:

|Class A | 1.40%
|------- | -----
|Class B | 2.15%
|Class S | 1.30%

For Class S shares, for the period from March 1, 2007 through
September 30, 2007, the Advisor had contractually agreed to waive all or a
portion of its management fee and reimburse or pay certain operating
expenses of the Fund (excluding certain expenses such as extraordinary
expenses, taxes, brokerage, interest and organizational and offering
expenses) to the extent necessary to maintain the operating expenses at
1.14%.

For Class C shares, for the period from November 1, 2006 through
February 28, 2007, the Advisor had contractually agreed to waive all or a
portion of its management fee and reimburse or pay certain operating
expenses of the Fund (excluding certain expenses such as extraordinary
expenses, taxes, brokerage, interest and organizational and offering
expenses) to the extent necessary to maintain the operating expenses at
2.30%.

Effective October 1, 2007 through September 30, 2008, the Advisor has
contractually agreed to waive all or a portion of its management fee and
reimburse or pay certain operating expenses of the Fund (excluding
certain expenses such as extraordinary expenses, taxes, brokerage and
interest expense) to the extent necessary to maintain the operating
expenses of certain classes as follows:

|Class B | 2.13%
|------- | -----
|Class S | 1.13%

Administration Fee. Pursuant to the Administrative Services Agreement,
DIMA provides most administrative services to the Fund. For all services
provided under the Administrative Services Agreement, the Fund pays the
Advisor an annual fee ("Administration Fee") of 0.10% of the Fund's
average daily net assets, computed and accrued daily and payable
monthly. For the year ended October 31, 2007, the Advisor received an
Administration Fee of $237,171, of which $21,635 is unpaid.

Service Provider Fees. DWS Scudder Investments Service Company
("DWS-SISC"), an affiliate of the Advisor, is the transfer agent,
dividend-paying agent and shareholder service agent for the Fund. Prior to
April 1, 2007, DWS Scudder Service Corporation ("DWS-SSC"), an affiliate
of the Advisor, was the transfer agent, dividend-paying agent and
shareholder service agent for Class S shares of the Fund. Effective April 1,
2007, DWS-SSC merged with DWS-SISC. The Board of the Fund approved
a new transfer agency agreement between the Fund and DWS-SISC. The
new transfer agency agreement is identical in substance to the previous
transfer agency agreement for the Fund, except for the named transfer
agent. Pursuant to a sub-transfer agency agreement among DWS-SISC,
DWS-SSC (through March 31, 2007) and DST Systems, Inc. ("DST"),
DWS-SISC and DWS-SSC have delegated certain transfer agent and
dividend paying agent functions to DST. DWS-SISC and DWS-SSC
compensate DST out of the shareholder servicing fee they receive from
the Fund. For the year ended October 31, 2007, the amounts charged to
the Fund by DWS-SISC and DWS-SSC (through March 31, 2007) were as
follows:

|Services to Shareholders | Total
Aggregated | Waived      | Unpaid at
October 31,
2007
|------------------------ | ---------------- | ----------- | --------------------------
|Class A                  | $       31,129   | $          | $       2,898             
|Class B                  | 6,090            | 2,004       | 472                       
|Class C                  | 10,344           |            | 884                       
|Class S                  | 240,731          | 76,307      |                          
|                         | $    288,294     | $    78,311 | $    4,254                

Distribution and Service Fees. Under the Fund's Class B and Class C
12b-1 Plans, DWS Scudder Distributors, Inc. ("DWS-SDI"), an affiliate of
the Advisor, receives a fee ("Distribution Fee") of 0.75% of average daily
net assets of each of Class B and C shares. In accordance with the Fund's
Underwriting and Distribution Services Agreement, DWS-SDI enters into
related selling group agreements with various firms at various rates for
sales of Class B and C shares. For the year ended October 31, 2007, the
Distribution Fee was as follows:

|Distribution Fee | Total
Aggregated | Unpaid at
October 31,
2007
|---------------- | ---------------- | --------------------------
|Class B          | $       16,660   | $       1,953             
|Class C          | 77,036           | 10,304                    
|                 | $    93,696      | $    12,257               

In addition, DWS-SDI provides information and administrative services for
a fee ("Service Fee") to Class A, B and C shareholders at an annual rate of
up to 0.25% of average daily net assets for each such class. DWS-SDI in
turn has various agreements with financial services firms that provide
these services and pays these fees based upon the assets of shareholder
accounts the firms service. For the year ended October 31, 2007,
the Service Fee was as follows:

|Service Fee | Total
Aggregated | Unpaid at
October 31,
2007 | Annual
Effective Rate
|----------- | ---------------- | -------------------------- | ---------------------
|Class A     | 61,929           | $       7,430              | .20%                 
|Class B     | 5,299            | 510                        | .24%                 
|Class C     | 25,748           | 2,630                      | .25%                 
|            | $    92,976      | $    10,570                |                      

Underwriting Agreement and Contingent Deferred Sales Charge.
DWS-SDI is the principal underwriter for the Fund. Underwriting
commissions paid in connection with the distribution of Class A shares for
the year ended October 31, 2007 aggregated $22,161.

In addition, DWS-SDI receives any contingent deferred sales charge
("CDSC") from Class B share redemptions occurring within six years of
purchase and Class C share redemptions occurring within one year of
purchase. There is no such charge upon redemption of any share
appreciation or reinvested dividends. The CDSC is based on declining
rates ranging from 4% to 1% for Class B and 1% for Class C, of the value
of the shares redeemed. For the year ended October 31, 2007, the CDSC
for Class B and C shares aggregated $30,413 and $6,852, respectively. A
deferred sales charge of up to 0.85% is assessed on certain redemptions
of Class A shares. For the year ended October 31, 2007, DWS-SDI
received $302 for Class A shares.

Typesetting and Filing Service Fees. Under an agreement with DIMA,
DIMA is compensated for providing typesetting and certain regulatory
filing services to the Fund. For the year ended October 31, 2007, the
amount charged to the Fund by DIMA included in the Statement of
Operations under "reports to shareholders" aggregated $31,529, of
which $12,854 is unpaid.

Directors' Fees and Expenses. As compensation for his or her services,
each Independent Director receives an aggregated annual fee, plus a fee
for each meeting attended (plus reimbursement for reasonable
out-of-pocket expenses incurred in connection with his or her attendance
at board and committee meetings) from each fund in the Fund Complex
for which he or she serves. In addition, the Chairperson of the Board and
the Chairperson of each committee of the Board receive additional
compensation for their services. Payment of such fees and expenses is
allocated among all such funds described above in direct proportion to
their relative net assets.

Cash Management QP Trust. Pursuant to an Exemptive Order issued
by the SEC, the Fund may invest in the Cash Management QP Trust (the
"QP Trust"), and other affiliated funds managed by the Advisor. The QP
Trust seeks to provide as high a level of current income as is consistent
with the preservation of capital and the maintenance of liquidity. The QP
Trust does not pay the Advisor a management fee for the affiliated funds'
investments in the QP Trust.

D. Investing in Emerging Markets

Investing in emerging markets may involve special risks and
considerations not typically associated with investing in the United States
of America. These risks include revaluation of currencies, high rates of
inflation, repatriation restrictions of income and capital, and future adverse
political, social and economic developments. Moreover, securities issued
in these markets may be less liquid, subject to government ownership
controls or delayed settlements and may have prices more volatile than
those of comparable securities in the United States of America.

E. Line of Credit

The Fund and other affiliated funds (the "Participants") share in a
$750 million revolving credit facility administered by JPMorgan Chase
Bank, N.A. for temporary or emergency purposes, including the meeting
of redemption requests that otherwise might require the untimely
disposition of securities. The Participants are charged an annual
commitment fee which is allocated, based upon net assets, among each
of the Participants. Interest is calculated at the Federal Funds Rate plus
0.35 percent. The Fund may borrow up to a maximum of 25 percent of its
net assets under this agreement.

F. Loan Participations/Assignments

The Fund invests in US dollar-denominated fixed and floating rate loans
("Loans") arranged through private negotiations between a borrower and
one or more financial institutions ("Lenders"). The Fund invests in such
Loans in the form of participations in Loans ("Participations") or
assignments of all or a portion of loans from third parties ("Assignments").
Participations typically result in the Fund having a contractual relationship
only with the Lender and not with the borrower. The Fund has the right to
receive payments of principal, interest and any fees to which it is entitled
from the Lender selling the Participation and only upon receipt by the
Lender of the payments from the borrower. In connection with purchasing
Participations, the Fund generally has no right to enforce compliance by
the borrower with the terms of the loan agreement relating to the Loan,
nor any rights of set-off against the borrower, and the Fund will not benefit
directly from any collateral supporting the Loan in which it has purchased
the Participation. As a result, the Fund assumes the credit risk of both the
borrower and the Lender that is selling the Participation.

G. Share Transactions

The following table summarizes share and dollar activity in the Fund:

|                                                               | Year Ended October 31, 2007 | Year Ended October 31, 2006
|-------------------------------------------------------------- | --------------------------- | ---------------------------
|                                                               | Shares                      | Dollars                    
|Shares sold                                                   
|Class A                                                        | 3,047,088                   | $       37,604,641         
|Class B                                                        | 93,383                      | 1,155,522                  
|Class C                                                        | 728,152                     | 9,032,800                  
|Class AARP*                                                    |                            |                           
|Class S                                                        | 4,056,243                   | 50,204,851                 
|                                                               |                             | $    97,997,814            
|Shares issued to shareholders in reinvestment of distributions
|Class A                                                        | 111,185                     | $       1,361,031          
|Class B                                                        | 6,629                       | 81,518                     
|Class C                                                        | 30,480                      | 374,370                    
|Class AARP*                                                    |                            |                           
|Class S                                                        | 897,621                     | 10,996,446                 
|                                                               |                             | $    12,813,365            
|Shares redeemed                                               
|Class A                                                        | (1,178,255)                 | $       (14,456,474)       
|Class B                                                        | (73,836)                    | (902,329)                  
|Class C                                                        | (209,278)                   | (2,559,339)                
|Class AARP*                                                    |                            |                           
|Class S                                                        | (4,002,964)                 | (49,213,890)               
|                                                               |                             | $    (67,132,032)          
|Shares converted*                                             
|Class AARP                                                     |                            | $                         
|Class S                                                        |                            |                           
|                                                               |                             | $                         
|Redemption fees                                                | $    11,462                 |                            
|Net increase (decrease)                                       
|Class A                                                        | 1,980,018                   | $       24,512,961         
|Class B                                                        | 26,176                      | 335,743                    
|Class C                                                        | 549,354                     | 6,848,188                  
|Class AARP*                                                    |                            |                           
|Class S                                                        | 950,900                     | 11,993,717                 
|                                                               |                             | $    43,690,609            

Report of Independent Registered
Public Accounting Firm

To the Board of Directors of DWS Global/International Fund, Inc. and the
Shareholders of DWS Emerging Markets Fixed Income Fund:

In our opinion, the accompanying statement of assets and liabilities,
including the investment portfolio, and the related statements of
operations and of changes in net assets and the financial highlights
present fairly, in all material respects, the financial position of DWS
Emerging Markets Fixed Income Fund (the "Fund") at October 31, 2007,
and the results of its operations, the changes in its net assets and the
financial highlights for each of the periods indicated therein, in conformity
with accounting principles generally accepted in the United States of
America. These financial statements and financial highlights (hereafter
referred to as "financial statements") are the responsibility of the Fund's
management. Our responsibility is to express an opinion on these
financial statements based on our audits. We conducted our audits of
these financial statements in accordance with the standards of the Public
Company Accounting Oversight Board (United States). Those standards
require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation.
We believe that our audits, which included confirmation of securities at
October 31, 2007by correspondence with the custodian and brokers,
provide a reasonable basis for our opinion.

|Boston, Massachusetts
December 19, 2007 | PricewaterhouseCoopers LLP
|--------------------------------------- | --------------------------

Tax Information(Unaudited)

Please consult a tax advisor if you have questions about federal or state
income tax laws, or on how to prepare your tax returns. If you have
specific questions about your account, please call (800) 621-1048.

Investment Management Agreement
Approval

The Fund's Directors approved the continuation of the Fund's current
investment management agreement with DIMA and sub-advisory
agreement between DIMA and Aberdeen Asset Management Investment
Services Limited ("AAMISL") in September 2007.

In terms of the process that the Directors followed prior to approving the
agreements, shareholders should know that:

At the present time, all but one of your Fund's Directors are
independent of DIMA and its affiliates.

The Directors meet frequently to discuss fund matters. Each year, the
Directors dedicate part or all of several meetings to contract review
matters. In connection with reviewing the Fund's investment
management agreement, the Directors also review the terms of the
Fund's Rule 12b-1 plan, distribution agreement, administration
agreement, transfer agency agreement and other material service
agreements.

In connection with the Board's 2007 contract review, the Board formed
a special committee to facilitate careful review of the funds'
contractual arrangements. After reviewing the Fund's arrangements,
that committee recommended that the Board vote to approve the
continuation of the Fund's investment management agreement and
sub-advisory agreement.

The Directors regularly meet privately with their independent counsel
to discuss contract review and other matters. In addition, the Directors
were also advised by two consultants, including the Fund's
independent fee consultant, in the course of their 2007 review of the
Fund's contractual arrangements. In particular, the Directors
considered the report prepared by the independent fee consultant in
connection with their deliberations.

The sub-advisory fee paid to AAMISL is paid by DIMA out of its fee
and not directly by the Fund.

The Directors believe that a long-term relationship with a capable,
conscientious advisor is in the best interest of shareholders. As you may
know, DIMA is part of Deutsche Bank, a major global banking institution
that is engaged in a wide range of financial services. The Directors believe
that there are significant advantages to being part of a global asset
management business that offers a wide range of investing expertise and
resources, including hundreds of portfolio managers and analysts with
research capabilities in many countries throughout the world.

Shareholders may focus primarily on fund performance and fees, but the
Fund's Directors consider these and many other factors, including the
quality and integrity of DIMA's and AAMISL's personnel and such other
issues as back-office operations, fund valuations, and compliance policies
and procedures.

In determining to approve the continuation of the Fund's current
investment management agreement and sub-advisory agreement, the
Board considered all factors that it believes relevant to the interests of
Fund shareholders, including:

The investment management fee schedule for the Fund, including
(i) comparative information provided by Lipper regarding investment
management fee rates paid to other investment advisors by similar
funds and (ii) fee rates paid to DIMA by similar funds and
institutional accounts advised by DIMA (if any).With respect to
management fees paid to other investment advisors by similar funds,
the Directors noted that the contractual fee rates paid by the Fund
were lower than the median (2nd quartile) of the applicable Lipper peer
group (based on Lipper data provided as of December 31, 2006). The
Board gave a lesser weight to fees paid by similar institutional
accounts advised by DIMA, in light of the material differences in the
scope of services provided to mutual funds as compared to those
provided to institutional accounts. Taking into account the foregoing,
the Board concluded that the fee schedule in effect for the Fund
represents reasonable compensation in light of the nature, extent and
quality of the investment services being provided to the Fund.

The extent to which economies of scale would be realized as the
Fund grows.In this regard, the Board noted that the Fund's
investment management fee schedule includes fee breakpoints. The
Board concluded that the Fund's fee schedule represents an
appropriate sharing between Fund shareholders and DIMA of such
economies of scale as may exist in the management of the Fund at
current asset levels.

The total operating expenses of the Fund.In this regard, the Board
noted that the total (net) operating expenses of the Fund (Class A
shares) are expected to be higher than the median (3rd quartile) of the
applicable Lipper expense universe (based on Lipper data provided as
of December 31, 2006, and in each case analyzing Class A expenses
less any applicable distribution and/or service plan expenses). The
Board considered the expenses of this class to be representative for
purposes of evaluating other classes of shares. The Board also noted
that the expense limitations agreed to by DIMA helped to ensure that
the Fund's total (net) operating expenses would be competitive relative
to the applicable Lipper universe.

The investment performance of the Fund and DIMA, both absolute
and relative to various benchmarks and industry peer groups.The
Board noted that for the each of the one-, three- and five-year periods
ended December 31, 2006, the Fund's performance (Class S shares)
was in the 1st quartile of the applicable Lipper universe. The Board
also observed that the Fund has outperformed its benchmark in the
each of the one-, three- and five-year periods ended December 31,
2006. The Board recognized that DIMA has made significant changes
in its investment personnel and processes in recent years in an effort
to improve long-term performance.

The nature, extent and quality of the advisory services provided by
DIMA and AAMISL.The Board considered extensive information
regarding DIMA, including DIMA's personnel (including particularly
those personnel with responsibilities for providing services to the
Fund), resources, policies and investment processes. The Board also
considered the terms of the current investment management
agreement and the sub-advisory agreement, including the scope of
services provided under the agreements. In this regard, the Board
concluded that the quality and range of services provided by DIMA and
AAMISL have benefited and should continue to benefit the Fund and
its shareholders.

The costs of the services to, and profits realized by, DIMA and its
affiliates from their relationships with the Fund.The Board reviewed
information concerning the costs incurred and profits realized by DIMA
during 2006 from providing investment management services to the
Fund (and, separately, to the entire DWS Scudder fund complex), and
reviewed with DIMA the cost allocation methodology used to
determine DIMA's profitability. In analyzing DIMA's costs and profits,
the Board also reviewed the fees paid to and services provided by
DIMA and its affiliates with respect to administrative services, transfer
agent services, shareholder servicing and distribution (including fees
paid pursuant to 12b-1 plans), as well as information regarding other
possible benefits derived by DIMA and its affiliates as a result of
DIMA's relationship with the Fund. As part of this review, the Board
considered information provided by an independent accounting firm
engaged to review DIMA's cost allocation methodology and
calculations. The Board concluded that the Fund's investment
management fee schedule represented reasonable compensation in
light of the costs incurred by DIMA and its affiliates in providing
services to the Fund. The Board also reviewed information regarding
the profitability of certain similar investment management firms. The
Board noted that while information regarding the profitability of such
firms is limited (and in some cases is not necessarily prepared on a
comparable basis), DIMA and its affiliates' overall profitability with
respect to the DWS Scudder fund complex (after taking into account
distribution and other services provided to the funds by DIMA and its
affiliates) was lower than the overall profitability levels of many
comparable firms for which such data was available.

The practices of DIMA and AAMISL regarding the selection and
compensation of brokers and dealers executing portfolio
transactions for the Fund.The Board considered that a portion of the
Fund's brokerage may be allocated to affiliates of DIMA or AAMISL,
subject to compliance with applicable SEC rules. The Board also
considered that, subject to ongoing review by the Board, a limited
portion of the Fund's brokerage may be allocated to brokers who
acquire (and provide to DIMA and its affiliates) research services from
third parties that are generally useful to DIMA and its affiliates in
managing client portfolios. The Board indicated that it would continue
to monitor the allocation of the Fund's brokerage to ensure that the
principle of "best price and execution" remains paramount in the
portfolio trading process.

DIMA's commitment to and record of compliance, including its
written compliance policies and procedures.In this regard, the Board
considered DIMA's commitment to indemnify the Fund against any
costs and liabilities related to lawsuits or regulatory actions arising
from allegations regarding market timing, revenue sharing, fund
valuation or other subjects arising from or relating to pending
regulatory inquiries. The Board also considered the significant attention
and resources dedicated by DIMA to documenting and enhancing its
compliance processes in recent years. The Board noted in particular (i)
the experience and seniority of DIMA's chief compliance officer, (ii) the
large number of compliance personnel who report to DIMA's chief
compliance officer, and (iii) the substantial commitment of resources
by DIMA and its affiliates to compliance matters.

Deutsche Bank's commitment to its US mutual fund business.The
Board considered recent and ongoing efforts by Deutsche Bank to
restructure its US mutual fund business to improve efficiency and
competitiveness and to reduce compliance and operational risk. The
Board considered assurances received from Deutsche Bank that it
would commit the resources necessary to maintain high-quality
services to the Fund and its shareholders. The Board also considered
Deutsche Bank's strategic plans for its US mutual fund business, the
potential benefits to Fund shareholders and Deutsche Bank's
management of one of Europe's most successful fund groups.

Based on all of the foregoing, the Board determined to continue the
Fund's current investment management agreement and the sub-advisory
agreement, and concluded that the continuation of such agreements was
in the best interests of the Fund's shareholders.

In reaching this conclusion the Board did not give particular weight to any
single factor identified above. The Board considered these factors over the
course of numerous meetings, many of which were in executive session
with only the Independent Directors and their counsel present. It is
possible that individual Directors may have weighed these factors
differently in reaching their individual decisions to approve the
continuation of the current agreements.

Summary of Management Fee Evaluation
by Independent Fee Consultant

October 26, 2007

Pursuant to an Order entered into by Deutsche Investment Management
Americas and affiliates (collectively, "DeAM") with the Attorney General
of New York, I, Thomas H. Mack, have been appointed the Independent
Fee Consultant for the DWS Scudder Funds. My duties include preparing
an annual written evaluation of the management fees DeAM charges the
Funds, considering among other factors the management fees charged by
other mutual fund companies for like services, management fees DeAM
charges other clients for like services, DeAM's costs of supplying services
under the management agreements and related profit margins, possible
economies of scale if a Fund grows larger, and the nature and quality of
DeAM's services, including fund performance. This report summarizes my
evaluation for 2007, including my qualifications, the evaluation process for
each of the DWS Scudder Funds, consideration of certain complex-level
factors, and my conclusions.

Qualifications

For more than 30 years I have served in various professional capacities
within the investment management business. I have held investment
analysis and advisory positions, including securities analyst, portfolio
strategist and director of investment policy with a large investment firm. I
have also performed business management functions, including business
development, financial management and marketing research and analysis.

Since 1991, I have been an independent consultant within the asset
management industry. I have provided services to over 125 client
organizations, including investment managers, mutual fund boards,
product distributors and related organizations. Over the past several years
I have completed a number of assignments for mutual fund boards,
specifically including assisting boards with management contract renewal.

I hold a Master of Business Administration degree, with highest honors,
from Harvard University; and Master of Science and Bachelor of Science
(highest honors) degrees from the University of California at Berkeley. I
am an independent director and audit committee financial expert for two
closed-end mutual funds, serve on the board of directors of a private
market research company, and have served in various leadership and
financial oversight capacities with non-profit organizations.

Evaluation of Fees for each DWS Scudder Fund

My work focused primarily on evaluating, fund-by-fund, the fees charged
to each of the 136 Fund portfolios in the DWS Scudder Fund family. For
each Fund, I considered each of the key factors mentioned above, as well
as any other relevant information. In doing so I worked closely with the
Funds' Independent Directors in their annual contract renewal process, as
well as in their approval of contracts for several new funds (documented
separately).

In evaluating each Fund's fees, I reviewed comprehensive materials
provided by or on behalf of DeAM, including expense information
prepared by Lipper Analytical, comparative performance information,
profitability data, manager histories, and other materials. I also accessed
certain additional information from the Lipper, Strategic Insight, and
Morningstar databases and drew on my industry knowledge and
experience.

To facilitate evaluating this considerable body of information, I prepared
for each Fund a document summarizing the key data elements in each
area as well as additional analytics discussed below. This made it possible
to consider each key data element in the context of the others.

In the course of contract renewal, DeAM agreed to implement a number
of fee and expense adjustments requested by the Independent Directors
which will favorably impact future fees and expenses, and my evaluation
includes the effects of these changes.

Fees and Expenses Compared with Other Funds

The competitive fee and expense evaluation for each fund focused on two
primary comparisons:

The Fund's contractual management fee (the advisory fee plus the
administration fee where applicable) compared with those of a group of
typically 12-15 funds in the same Lipper investment category (e.g.
Large Capitalization Growth) having similar distribution arrangements
and being of similar size.

The Fund's total expenses compared with a broader universe of funds
from the same Lipper investment category and having similar
distribution arrangements.

These two comparisons provide a view of not only the level of the fee
compared with funds of similar scale but also the total expense the Fund
bears for all the services it receives, in comparison with the investment
choices available in the Fund's investment category and distribution
channel. The principal figure-of-merit used in these comparisons was the
subject Fund's percentile ranking against peers.

DeAM's Fees for Similar Services to Others

DeAM provided management fee schedules for all of its US domiciled
fund and non-fund investment management accounts in any of the
investment categories where there is a DWS Scudder Fund. These similar
products included the other DWS Scudder Funds, non-fund pooled
accounts, institutional accounts and sub-advisory accounts. Using this
information, I calculated for each Fund the fee that would be charged to
each similar product, at the subject Fund's asset level.

Evaluating information regarding non-fund products is difficult because
there are varying levels of services required for different types of
accounts, with mutual funds generally requiring considerably more
regulatory and administrative types of service as well as having more
frequent cash flows than other types of accounts. Also, while mutual fund
fees for similar fund products can be expected to be similar, there will be
some differences due to different pricing conditions in different
distribution channels (e.g. retail funds versus those used in variable
insurance products), differences in underlying investment processes and
other factors.

Costs and Profit Margins

DeAM provided a detailed profitability analysis for each Fund. After
making some adjustments so that the presentation would be more
comparable to the available industry figures, I reviewed profit margins
from investment management alone, from investment management plus
other fund services (excluding distribution) provided to the Funds by
DeAM (principally shareholder services), and DeAM profits from all
sources, including distribution. A later section comments on overall
profitability.

Economies of Scale

Economies of scale  an expected decline in management cost per dollar
of fund assets as fund assets grow  are very rarely quantified and
documented because of inherent difficulties in collecting and analyzing
relevant data. However, in virtually every investment category that I
reviewed, larger funds tend to have lower fees and lower total expenses
than smaller funds. To see how each DWS Scudder Fund compares with
this industry observation, I reviewed:

The trend in Fund assets over the last five years and the accompanying
trend in total expenses. This shows if the Fund has grown and, if so,
whether total expense (management fees as well as other expenses)
have declined as a percent of assets.

Whether the Fund has break-points in its management fee schedule,
the extent of the fee reduction built into the schedule and the asset
levels where the breaks take effect, and in the case of a sub-advised
Fund how the Fund's break-points compare with those of the
sub-advisory fee schedule.

How the Fund's contractual fee schedule compares with trends in the
industry data. To accomplish this, I constructed a chart showing how
actual latest-fiscal-year contractual fees of the Fund and of other similar
funds relate to average fund assets, with the subject Fund's contractual
fee schedule superimposed.

Quality of Service  Performance

The quality-of-service evaluation focused on investment performance,
which is the principal result of the investment management service. Each
Fund's performance was reviewed over the past 1, 3, 5 and 10 years, as
applicable, and compared with that of other funds in the same investment
category and with a suitable market index.

In addition, I calculated and reviewed risk-adjusted returns relative to an
index of similar mutual funds' returns and a suitable market index. The
risk-adjusted returns analysis provides a way of determining the extent to
which the Fund's return comparisons are mainly the product of investment
value-added (or lack thereof) or alternatively taking considerably more or
less risk than is typical in its investment category.

I also received and considered the history of portfolio manager changes
for each Fund, as this provided an important context for evaluating the
performance results.

Complex-Level Considerations

While this evaluation was conducted mainly at the individual fund level,
there are some issues relating to the reasonableness of fees that can
alternatively be considered across the whole fund complex:

I reviewed DeAM's profitability analysis for all DWS Scudder funds,
with a view toward determining if the allocation procedures used were
reasonable and how profit levels compared with public data for other
investment managers.

I considered whether DeAM and affiliates receive any significant
ancillary or "fall-out" benefits that should be considered in interpreting
the direct profitability results. These would be situations where serving
as the investment manager of the Funds is beneficial to another part of
the Deutsche Bank organization.

I considered how aggregated DWS Scudder Fund expenses had varied
over the years, by asset class and in the context of trends in asset
levels.

I reviewed the structure of the DeAM organization, trends in staffing
levels, and information on compensation of investment management
and other professionals compared with industry data.

Findings

Based on the process and analysis discussed above, which included
reviewing a wide range of information from management and external
data sources and considering among other factors the fees DeAM
charges other clients, the fees charged by other fund managers, DeAM's
costs and profits associated with managing the Funds, economies of
scale, possible fall-out benefits, and the nature and quality of services
provided, in my opinion the management fees charged the DWS Scudder
Funds are reasonable.

emfi_m0Thomas H. Mack

Directors and Officers

The following table presents certain information regarding the Board
Members and Officers of the Corporation as of October 31, 2007. Each
Board Member's year of birth is set forth in parentheses after his or her
name. Unless otherwise noted, (i) each Board Member has engaged in
the principal occupation(s) noted in the table for at least the most recent
five years, although not necessarily in the same capacity; and (ii) the
address of each Independent Board Member is c/o Dawn-Marie Driscoll,
PO Box 100176, Cape Coral, FL 33904. The term of office for each Board
Member is until the election and qualification of a successor, or until such
Board Member sooner dies, resigns, is removed or as otherwise provided
in the governing documents of the fund. Because the fund does not hold
an annual meeting of shareholders, each Board Member will hold office
for an indeterminate period. The Board Members may also serve in similar
capacities with other funds in the fund complex.

|Independent Board Members                                              
|-----------------------------------------------------------------------
|Name, Year of
Birth, Position
with the Fund
and Length of
Time Served  
|Dawn-Marie
Driscoll (1946)Chairperson
since 2004Board Member
since 1987
|Henry P. Becton,
Jr. (1943)Board Member
since 1990                     
|Keith R. Fox
(1954)Board Member
since 1996                             
|Kenneth C.
Froewiss (1945)Board Member
since 2005                      
|Martin J. Gruber
(1937)Board Member
since 2006                         
|Richard J.
Herring (1946)Board Member
since 2006                       
|Graham E. Jones
(1933)Board Member
since 2006                          
|Rebecca W.
Rimel (1951)Board Member
since 2006                         
|Philip Saunders,
Jr. (1935)Board Member
since 2006                     
|William N.
Searcy, Jr. (1946)Board Member
since 2006                   
|Jean Gleason
Stromberg (1943)Board Member
since 1997                   
|Carl W. Vogt
(1936)Board Member
since 2002                             

|Interested Board Member                                              
|---------------------------------------------------------------------
|Name, Year of
Birth, Position
with the Fund
and Length of
Time Served
|Axel Schwarzer2(1958)Board Member
since 2006                         

|Officers3                                                                           
|------------------------------------------------------------------------------------
|Name, Year of Birth,
Position with the Fund and
Length of Time Served               
|Michael G. Clark5 (1965)President, 2006-present                                     
|John Millette6 (1962)Vice President and Secretary,
1999-present                     
|Paul H. Schubert5 (1963)Chief Financial Officer,
2004-presentTreasurer, 2005-present
|Patricia DeFilippis5(1963)Assistant Secretary,
2005-present                         
|Elisa D. Metzger5 (1962)Assistant Secretary
2005-present                            
|Caroline Pearson6 (1962)Assistant Secretary,
1997-present                           
|Paul Antosca6 (1957)Assistant Treasurer,
2007-present                               
|Kathleen Sullivan D'Eramo6
(1957)Assistant Treasurer,
2003-present                  
|Jason Vazquez4 (1972)Anti-Money Laundering
Compliance Officer,
2007-present         
|Robert Kloby5 (1962)Chief Compliance Officer,
2006-present                          
|J. Christopher Jackson5
(1951)Chief Legal Officer,
2006-present                     

The fund's Statement of Additional Information ("SAI") includes additional information about
the Board Members. The SAI is available, without charge, upon request. If you would like to
request a copy of the SAI, you may do so by calling the following toll-free number:
(800) 621-1048.

Account Management Resources

|                      
|----------------------
|For More
Information  
|Web Site              
|Written
Correspondence
|Proxy Voting          
|Principal
Underwriter 

|              | Class A    | Class B    | Class C    | Class S   
|------------- | ---------- | ---------- | ---------- | ----------
|Nasdaq Symbol | SZEAX      | SZEBX      | SZECX      | SCEMX     
|CUSIP Number  | 233379 601 | 233379 700 | 233379 809 | 233379 874
|Fund Number   | 476        | 676        | 776        | 2076      

Notes

Notes

Notes

Notes

Notes

emfi_backcover0

ITEM 2.
        CODE OF ETHICSAs of the end of the period, October 31, 2007, DWS Emerging Markets Fixed Income Fund has a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Principal Executive Officer and Principal Financial Officer.

There have been no amendments to, or waivers from, a provision of the code of ethics during the period covered by this report that would require disclosure under Item 2.

A copy of the code of ethics is filed as an exhibit to this Form N-CSR.ITEM 3.
        AUDIT COMMITTEE FINANCIAL EXPERTThe Funds audit committee is comprised solely of trustees who are independent (as such term has been defined by the Securities and Exchange Commission (SEC) in regulations implementing Section 407 of the Sarbanes-Oxley Act (the Regulations)). The Funds Board of Trustees has determined that there are several audit committee financial experts serving on the Funds audit committee. The Board has determined that Keith R Fox, the chair of the Funds audit committee, qualifies as an audit committee financial expert (as such term has been defined by the Regulations) based on its review of Mr. Foxs pertinent experience and education. The SEC has stated that the designation or identification of a person as an audit committee financial expert
pursuant to this Item 3 of Form N-CSR does not impose on such person any duties, obligations or liability that are greater than the duties, obligations and liability imposed on such person as a member of the audit committee and board of directors in the absence of such designation or identification.ITEM 4.
        PRINCIPAL ACCOUNTANT FEES AND SERVICES
  DWS EMERGING MARKETS FIXED INCOME FUND FORM N-CSR DISCLOSURE RE: AUDIT FEES The following table shows the amount of fees that PricewaterhouseCoopers, LLP (PWC), the Funds independent registered public accounting firm, billed to the Fund during the Funds last two fiscal years.  The Audit Committee approved in advance all audit services and non-audit services that PWC provided to the Fund. The Audit Committee has delegated certain pre-approval responsibilities to its Chairman (or, in his absence, any other member of the Audit Committee). Services that the Funds Independent Registered Public Accounting Firm Billed to the Fund  Fiscal YearEndedOctober 31,
        Audit Fees Billed to Fund
        Audit-RelatedFees Billed to Fund
        Tax Fees Billed to Fund
        AllOther Fees Billed to Fund2007
        $68,825
        $0
        $0
        $02006
        $73,500
        $128
        $0
        $0
  The above Audit- Related Fees were billed for agreed upon procedures performed.   Services that the Funds Independent Registered Public Accounting Firm Billed to the Adviser and Affiliated Fund Service Providers

The following table shows the amount of fees billed by PWC to Deutsche Investment Management Americas, Inc. (DeIM or the Adviser), and any entity controlling, controlled by or under common control with DeIM (Control Affiliate) that provides ongoing services to the Fund (Affiliated Fund Service Provider), for engagements directly related to the Funds operations and financial reporting, during the Funds last two fiscal years.




Fiscal YearOctober 31,
        Audit-RelatedFees Billedto Adviser and Affiliated Fund Service Providers
        Tax Fees Billed to Adviser and Affiliated Fund Service Providers
        AllOther Fees Billed to Adviser and Affiliated Fund Service Providers2007
        $58,500
        $25,000
        $02006
        $155,500
        $11,930
        $0



The Audit-Related Fees were billed for services in connection with the agreed-upon procedures related to fund mergers and additional costs related to annual audits and the above Tax Fees were billed in connection with tax consultation and agreed-upon procedures.

Non-Audit Services

The following table shows the amount of fees that PWC billed during the Funds last two fiscal years for non-audit services. The Audit Committee pre-approved all non-audit services that PWC provided to the Adviser and any Affiliated Fund Service Provider that related directly to the Funds operations and financial reporting. The Audit Committee requested and received information from PWC about any non-audit services that PWC rendered during the Funds last fiscal year to the Adviser and any Affiliated Fund Service Provider.  The Committee considered this information in evaluating PWCs independence.




Fiscal YearEndedOctober 31,
        TotalNon-Audit Fees Billed to Fund
(A)
        Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Fund)
(B)
        Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements)
(C)
        Total of (A), (B)and (C)2007
        $0
        $25,000
        $0
        $25,0002006
        $0
        $11,930
        $0
        $11,930





All other engagement fees were billed for services in connection with industry updates for DeIM and other related entities that provide support for the operations of the fund.



ITEM 5.
        AUDIT COMMITTEE OF LISTED REGISTRANTSNot ApplicableITEM 6.
        SCHEDULE OF INVESTMENTSNot ApplicableITEM 7.
        DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIESNot applicable.ITEM 8.
        PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIESNot applicable.




ITEM 9.
        PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERSNot Applicable.




ITEM 10.
        SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERSThe Committee on Independent Trustees/Directors selects and nominates Independent Trustees/Directors. Fund shareholders may submit nominees that will be considered by the committee when a Board vacancy occurs. Submissions should be mailed to: c/o Dawn-Marie Driscoll, PO Box 100176, Cape Coral, FL 33910.ITEM 11.
        CONTROLS AND PROCEDURES(a)          The Chief Executive and Financial Officers concluded that the Registrants Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.(b)          There have been no changes in the registrants internal control over financial reporting that occurred during the registrants last half-year (the registrants second fiscal half-year in the case of the annual report) that has materially affected, or is reasonably likely to materially affect, the registrants internal controls over financial reporting.ITEM 12.
        EXHIBITS(a)(1)     Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.(a)(2)     Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.(b)         Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.


Form N-CSR Item F  SIGNATURES  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.  Registrant:
        DWS Emerging Markets Fixed Income Fund, a series of DWS Global/International Fund, Inc.
  By:
        /s/Michael G. Clark
 Michael G. Clark
 President  Date:
        December 28, 2007
   Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.  Registrant:
        DWS Emerging Markets Fixed Income Fund, a series of DWS Global/International Fund, Inc.
  By:
        /s/Michael G. Clark
 Michael G. Clark
 President  Date:
        December 28, 2007
   By:
        /s/Paul Schubert
 Paul Schubert
 Chief Financial Officer and Treasurer  Date:
        December 28, 2007