Yes i think it is ok nowadays... nike has had a bad rep in the past, but they have stepped up their game....
I watched a documentary on it sometime ago - it seemed pretty interesting
The workers get something really small, like only a few dollars a day, but that is more than farmers earn and other factory workers earn there. also they have strict policies on workers being over 16 etc... and have put money into education and schooling, they have some sort of management structure that allows even the lowest earners to one day become the manager of the factory
A few dollars goes a loooooooooong way in places like vietnam, so the workers are earning above the minimum wage for their country...
But do i agree with cheap labour? no i don't, but everything from clothes, shoes, even skis are made in the far east, but at least nike are trying!