I'll be back asap

Don't jus point to this Ayah,,coz to understand the reason behind it uv to read nd understand the whole Surah Al-Maidah..

Sorry for late reply. Afridi's point is valid for sure. The context is important.
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Before answering, it is important to know that simple isolated translation of a verse will not provide full understanding and meaninings behind it.
many things count here

(1) understanding the context: this at least refer to two types of contexts
(1.a) the context of that verse in relation to other verses in the same surah/chaper. That is, you study the topics discussed in that surah, then try to look and compare how that verse fit in and what additional meanings it gives.
(1.b) the context of how this verse is uniquely giving a meaning compared to verses in other surahs that talked about the same topic. That is, for example if there is a verse taling about topic A in this surah, and another surah has talked about the same topic A: how is this verse unique?

(2) Rely on language, its styles, metaphorical ways, etc... The interpretation of Quran is no way far from deep understanding of Arabic language and its attributes and characteristics. Many (if not all) Quran interpreters refer back to other resources such as old poetry to get full knowledge of some words/phrases/etc.

(3) Refer to Hadith (talks from Prophet peace be upon him). Prophet (PBUH) has himself interpreted many verses. So, that is an impoortant source as well.

(4) Refer to narrations on the occasion of when or maybe why or the story behind that verse was revealed. That really tells much (if a story exists).

(5) Refer to narrations from time of companions and other followers who probably heared something about it.

(6) Always keep in mind that one person may not have full understanding, but scholars as a group work better. Besides, there would always be a margin other meanings get revealed by time in future based on future incidents, etc

To give some context, some cholars name this surah the surah of bonds/contracts as the first ayah calls to
((O you who have believed, fulfill [all] contracts/bonds)) Quran 5:1
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The surah has discussed many topics with a long focus who Jews and Christians were in the same boat and in which situations they were different, and what should be the Muslim believers action towards all that.
I will give few examples from the same surah to ellaborate the context

The surah mentions how Jews broken their convenant and how the Christians forgotten parts of it.
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((And Allah had already taken a covenant from the Children of Israel, and We delegated from among them twelve leaders. And Allah said, I am with you. If you establish prayer and give zakah and believe in My messengers and support them and loan Allah a goodly loan,I will surely remove from you your misdeeds and admit you to gardens beneath which rivers flow. But whoever of you disbelieves after that has certainly strayed from the soundness of the way.
So for their breaking of the covenant We cursed them and made their hearts hardened. They distort words from their [proper] places [i.e., usages] and have forgotten a portion of that of which they were reminded. And you will still observe deceit among them, except a few of them. But pardon them and overlook [their misdeeds]. Indeed, Allah loves the doers of good.
And from those who say, We are Christians We took their covenant; but they forgot a portion of that of which they were reminded. So We caused among them animosity and hatred until the Day of Resurrection. And Allah is going to inform them about what they used to do.))
Ayah 12-14

Both Jews and Christians claimed they are the children and beloved ones of God
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((But the Jews and the Christians say, We are the children of Allah and His beloved. Say, Then why does He punish you for your sins? Rather, you are human beings from among those He has created. He forgives whom He wills, and He punishes whom He wills. And to Allah belongs the dominion of the heavens and the earth and whatever is between them, and to Him is the [final] destination.))
Ayah 18

Jews refused to help Moses and fight with him to enter the holy land
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((They said, O Moses, indeed we will not enter it, ever, as long as they are within it; so go, you and your Lord, and fight. Indeed, we are remaining right here.))
Ayah 24 and refer to other Ayah before it

Jews said that the hand of Allah is chained..
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((And the Jews say, The hand of Allah is chained.Chained are their hands, and cursed are they for what they say. Rather, both His hands are extended; He spends however He wills. And that which has been revealed to you from your Lord will surely increase many of them in transgression and disbelief. And We have cast among them animosity and hatred until the Day of Resurrection. Every time they kindled the fire of war [against you], Allah extinguished it. And they strive throughout the land [causing] corruption, and Allah does not like corrupters))
Ayah 64

There are many other examples, but I'd like refer to one here where Jews and Christians are different.
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((You will surely find the most intense of the people in animosity toward the believers [to be] the Jews and those who associate others with Allah; and you will find the nearest of them in affection to the believers those who say, We are Christians. That is because among them are priests and monks and because they are not arrogant.
And when they hear what has been revealed to the Messenger, you see their eyes overflowing with tears because of what they have recognized of the truth. They say, Our Lord, we have believed, so register us among the witnesses.))
Ayah 82-83

So, given all that and other stories that articulate the beliefs (and/or actions) of Jews and Christians, would that be any good for a Muslim to take them as a role model or prefer their faith on the Islamic pure belife? no way.
While the Islam has revealed what is wrong, it also revealed what is right and guided us to the rightous path in beliefs, worship and dealings.
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Ayah 51 says ((O you who have believed, do not take the Jews and the Christians as allies. They are [in fact] allies of one another. And whoever is an ally to them among you - then indeed, he is [one] of them. Indeed, Allah guides not the wrongdoing people.))
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Not taking them as allies encompasses many thing, not limited to
(1) Not help them or support them against other muslims.
(2) Not to promote their wrong beliefs.
(3) follow their life styles that condradicts with islamic teachings.

Think of it: how it comes you be a real muslim then your heart and actions tell something else? hypocrisy?

There's always an answer

Why not if it's a clear answer.
By the way, there was no question is this topic actually. only a request to calrify and hope that was the case.

Well, there's been some good discussions here but many are not really any useful. I always hoped users disagree with others in a good way: what's wrong, why and what do you think is the right of the discussed point. Majority of users either fight or want to disagree and not actually taking discussion as means to reach truth .
Respect is a must in all situations for sure.
I'm totally sure whoever honest in their intentions will eventually find the truth.
I would never claim I own the full truth, but will always like see fruitful discussions on reasonable basis and evidence.

Good Job miad JazakAllah