The presidency of Dwight D. Eisenhower began at noon EST on January 20, 1953, with his inauguration as the 34th President of the United States, and ended on January 20, 1961. Eisenhower, a Republican, took office as president following his victory over Democrat Adlai Stevenson in the 1952 presidential election. John F. Kennedy succeeded him after winning the 1960 presidential election. In 1953, Eisenhower opened relations with Spain under dictator Francisco Franco. Despite its undemocratic nature, Spain's strategic position in light of the Cold War and anti-communist position led Eisenhower to build a trade and military alliance with the Spanish through the Pact of Madrid. These relations brought an end to Spain's isolation after World War II, which in turn led to a Spanish economic boom known as the Spanish miracle.