It doesn't even have to be ethical - I'd rather not empower a country who very clearly do not have my best interests at heart and do not remotely share my values. Every purchase does that and if we are taking capitalism seriously, then every purchase counts. 'Better to buy a single Bremont than curse the darkness' as they say.
But we implicitly do that with most of our (non watch ) purchases thesedays.........we have very limited choice.