I actually began reading the book on 5.4.2015, but due to revisions and classes, I've only got to finish it today (12.6.2015).
Trotsky believes that the revolution of the proletariat towards a communist state has to be a global one; small, localized revolutions will not do. Trotsky, referring to Frederick Engels label of anti-Semitism as the "socialism of idiots" implies that the "socialism" advocated by Hitler and Stalin is not "socialism" in its truest sense at all. Accordingly, he believes breaking down racial barriers is for the betterment of all. Thus, for Trotsky, the emancipation of Jews will mark a step closer to the emancipation to mankind.