ThatGuy11200
Muse
Where I am, "Caucasian" in reference to race just means "White"; it's employed because some people feel embarrassed about referring to white people as a race, given history.
When the word "Caucasian" is used in other contexts it's usually about geography, particularly the mountain range of that name.
I think it's disingenous for Americans, at least, to pretend confusion as to what "Caucasian" means when used in context of race. It means white people. What that includes or excludes is up to the reader of whatever they're reading it on, and it depends on the other choices available.
I'm from the UK and my understanding of 'Caucasian' has always been number two in this list of definitions:
https://en.wiktionary.org/wiki/Caucasian
2. (anthropology) Of a racial classification; pertaining to people having certain phenotypical features such as straight, wavy or curly hair and very light to brown pigmented skin, and originating from Europe, parts of Northern Africa and Western, Central and South Asia.
Not that I think it has any biological validity.