I think you see Jesus portrayed as caucassian because you live in a European caucassian society.
I'm not so sure that caucassians consider Jews and arrabs to be caucassian. Thats not what they call them in anger. Thats not what they call them in Iraq.
Caucassians portray jesus as white because caucassians are white. Blacks portray jesus as black. Mexicans make him mexican.
Skin collor is just pigment in the skin. You see white Jesus's and hear about christianity because of where you live. If you were born somewhere else you would be hearing about Mohammad or Vishnu or Buddah.
The Wactower is a pulp magazine publishing company out of Booklin New Yawk that doesnt necessarily make them rassist. They have been appealing to their predominant demographic.