Can we take Jews and Christians as Friends?

IH asked: Please explain how will you translate the word AULIYA in 5:51 

All the Muslim world say, "DO NOT TAKE THE JEWS AND CHRISTIANS AS FRIENDS." 

AULIYA is translated as FRIENDS and this created lots of misinformation. 

لَّا يَنْهَاكُمُ اللَّهُ عَنِ الَّذِينَ لَمْ يُقَاتِلُوكُمْ فِي الدِّينِ وَلَمْ يُخْرِجُوكُم مِّن دِيَارِكُمْ أَن تَبَرُّوهُمْ وَتُقْسِطُوا إِلَيْهِمْ إِنَّ اللَّهَ يُحِبُّ الْمُقْسِطِينَ

إِنَّمَا يَنْهَاكُمُ اللَّهُ عَنِ الَّذِينَ قَاتَلُوكُمْ فِي الدِّينِ وَأَخْرَجُوكُم مِّن دِيَارِكُمْ وَظَاهَرُوا عَلَىٰ إِخْرَاجِكُمْ أَن تَوَلَّوْهُمْ وَمَن يَتَوَلَّهُمْ فَأُولَٰئِكَ هُمُ الظَّالِمُونَ

Allah (does) not forbid you from those who (do) not fight you in the religion and (do) not drive you out of your homes that you deal kindly and deal justly with them. Indeed, Allah loves those who act justly.

Only Allah forbids you from those who fight you in the religion and drive you out of your homes and support in your expulsion, that you make them allies. And whoever makes them allies, then those [they] (are) the wrongdoers.

http://islamawakened.com/quran/60/8/ ; http://islamawakened.com/quran/60/9/